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Like most people, I do skim over the annual statement from SS telling me how much I'll receive at retirement - this much if I retire at 62 and the higher amount if I wait until my full retirement age of 66. But what if I retire, for example, when I'm 64? Split the difference?
I'm sure I didn't read the statement fully and now I can't find it; just curious.
That information isn't provided in the statements we receive...but I checked recently on the SS website. It's a percentage...I have the information at home but if you retire at 64, you would get like 84% of what you would have gotten at 66. Can't recall the exact percentages offhand but it's something close to that. I think it goes up each month slightly. If you go to their website, there is alot of information there.
Your best option is to use one of the calculators at the SS website, plug your numbers in and do several what-if scenarios. Be aware that some assumptions are made by the online calculators. If you download the detailed calculator, you can play with the numbers for about any scenario:
That information isn't provided in the statements we receive...but I checked recently on the SS website. It's a percentage...I have the information at home but if you retire at 64, youwould get like 84% of what you would have gotten at 66. Can't recall the exact percentages offhand but it's something close to that. I think it goes up each month slightly. If you go to their website, there is alot of information there.
The exact answer to your question was provided in the link (here) I provided you above. Just enter your birth date and any choices of retirement dates and the calculator will give you the exact percentage compared to retiring at age 66 with 100% of your benefit. Moderator cut: snip
Last edited by Keeper; 03-02-2011 at 08:05 AM..
Reason: snippy
The exact answer to your question was provided in the link (here) I provided you above. Just enter your birth date and any choices of retirement dates and the calculator will give you the exact percentage compared to retiring at age 66 with 100% of your benefit. Moderator cut: snip ...
Of course I did, and I thanked everyone for the information.
Last edited by Keeper; 03-02-2011 at 08:06 AM..
Reason: removed
Just remember that it is an estimate only and things change..
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