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Let's assume you're interested in how to retire at 62 with $500,000 saved and you expect to live 30 years in retirement. If you follow the 4% rule, you'd have to cap your annual withdrawals at ...
The first rule to know before reaching age 62 and potentially claiming Social Security is that you can withdraw your application if you change your mind. ... Your full retirement age will increase ...
Age 62 is also an important milestone: Americans can begin claiming Social Security at that age if they meet the requirements. Social Security alone isn't a retirement strategy.
Here are two important Social Security rules everyone needs to know before they reach 62. Social Security cards on top of a $100 bill. Image source: Getty Images.
You can't claim Social Security retirement benefits until you turn 62, but there's no rule saying you have to be retired to do so. The Social Security Administration assigns everyone a full ...
Full retirement age. If you file at 62, benefit reduced by: A $1,000 check becomes. 66. 25 percent. $750. 66 and 2 months. 25.83 percent. $741. 66 and 4 months. 26.67 percent. $733. 66 and 6 months.
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