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Hold on a minute here. I was watching TV a while back and there was this young 26 yr old blonde that had a PH.d in Physcology (sp).
Two yrs ago I was in the VA hospital after surgery and this young Asian MD (mid 20's) (Resident) treated me.
Two months ago at the same hospital another Asian MD (Resident) also mid 20's saw me for another medical problem pending another minor surgery.
They are out there and not defending the OP but 20 + 20 does make 40 combined.
Saw in the newspaper one time the ages of Graduates in the University of Southern Calif Medical School and the youngest was 24 yrs of age. A MD at that age.
Lets see...High school at 17...college at 21...Medical School at 25...ready for residency.
To NHartphotog: Can it be you don't even know that you can receive benefits "early" at age 62; the amount will be permanently reduced as opposed to waiting until 67. And the only reason you would "never see a penny of it returned to you" is if you die young. How can you be so sure you will die young? Why do you post on a subject if you don't know anything about it? Isn't it in the least embarrassing to you?
If you take early retirement, say, at 62, and get reduced benefits, do those benefits go up to the ten current level when you reach 66, or is it permanently reduced to age 62 level?
If you take early retirement, say, at 62, and get reduced benefits, do those benefits go up to the ten current level when you reach 66, or is it permanently reduced to age 62 level?
If you start collecting at age 62, you get 75% of what the full age benefit would be. That stays permanently reduced at 75% forever, AFAIK. The only 'raises" you get are COLA's.
Every month past 62 can make a small difference. You get .4% for every month you wait to collect SS.
If you start collecting at age 62, you get 75% of what the full age benefit would be. That stays permanently reduced at 75% forever, AFAIK. The only 'raises" you get are COLA's.
Every month past 62 can make a small difference. You get .4% for every month you wait to collect SS.
I agree with your 75% at 62. However, doesn't rate escalation per month depend upon what your full retirement age is? For example, my FRA is 66. Based upon your formula I would get 85% at age 64, 90% at age 65, but only 95% at 66 (FRA).
Are you calculating 0.4%/month based upon FRA of 67, i.e. born after 1960?
Just go to SSA office, they have a little program where it calculates an estimate depending on the month/year you would retire in. Similar to the one you get in the mail but instead of just a early retirement estimate (62) and a full retirement age figure they have them for the months in between..I don't think they would give you a printout though (I dont)
Keep in mind it is just an estimate and they wont give you a hard number until you actually do apply.
Generally yes though 60 is the earliest a widow could start receiving ben's from her late husband. I say generally because like someone said earlier if they are disabled it would be lower, also if they have a child in care etc...
I agree with your 75% at 62. However, doesn't rate escalation per month depend upon what your full retirement age is? For example, my FRA is 66. Based upon your formula I would get 85% at age 64, 90% at age 65, but only 95% at 66 (FRA).
Are you calculating 0.4%/month based upon FRA of 67, i.e. born after 1960?
Because Igoofed and didn't notice the percentage changed as the years changed.
My FRA is the same as yours, here's the whole thing from 62 to 66
We all "goof" occasionally, but I find your straight-forward admission refreshing. In my book, honesty trumps perfection. Have you considered running for office? We could use you.
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