Just a note to my readers, this article was the first by my mom, she has been reading this blog for awhile now and wanted to write an article of her own. She expects to continue writing, so please encourage and leaves comments…Thanks!
My husband and I will be retiring within the next few years and we have found we have had many questions about Social Security. Asking around and talking to friends and family they don’t know the answers when asked. So, let’s just go over some brief facts about Social Security to get you started.
RETIRING AT FULL RETIREMENT AGE
RETIRING EARLY
If you’ve earned 40 credits, you can start receiving Social Security Benefits at 62 or at any month between 62 and full retirement age. However, your benefits will be permanently reduced based on the number of months you receive benefits before you reach full retirement age. If you retire before your full retirement age of 65 your benefits will be reduced:
If you retire before your full retirement age of 66, they will be reduced:
RECEIVING RETIREMENT BENEFITS WHILE YOU WORK
You can work while receiving monthly benefits. It could mean a higher benefit that can be important to you later in your life and increase the future benefits your family and survivors could receive. Over the years they have changed how much an individual can make so it is always good to check yearly what the income level is.
It is never too early to start planning for your retirement. Here are some numbers and a website to contact Social Security.
National Contact Number: 1-800-772-1213
Hearing Impaired: 1-800-325-0778
Email Address: www.socialsecurity.gov/planners
