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Key Points from 24/7 Wall St.: Don’t claim Social Security in 2025 without knowing your full retirement age. Your FRA is based on your birth year.
Birth Year. Full Retirement Age (FRA) 1943 to 1954. 66. 1955. 66 and 2 months. 1956. 66 and 4 months. 1957. 66 and 6 months. 1958. 66 and 8 months. 1959. 66 and 10 months
Image source: Getty Images. 1. Social Security benefits are rising by 2.5%. Each year, Social Security benefits are eligible for an automatic cost-of-living adjustment, or COLA.
A separate analysis from the Center on Budget and Policy Priorities found that the poverty rate for adults aged 65 and above would be nearly four times higher if Social Security didn't exist -- 10 ...
Turning 62 is a big milestone. For many, it marks the end of a decades-long career. It also signals eligibility for Social Security benefits, a primary source of income for a lot of retirees.
A new year, a new number for Social Security and the benefit program's full retirement age. Most people associate the age of 65 with retirement – although there's data suggesting the average ...