What is the earliest age you can retire and collect Social Security?

age 62
Early retirement You can get Social Security retirement benefits as early as age 62. However, we’ll reduce your benefit if you retire before your full retirement age. For example, if you turn age 62 in 2021, your benefit would be about 29.2 percent lower than it would be at your full retirement age of 66 and 10 months.

How much Social Security do you lose if you retire early?

In the case of early retirement, a benefit is reduced 5/9 of one percent for each month before normal retirement age, up to 36 months. If the number of months exceeds 36, then the benefit is further reduced 5/12 of one percent per month.

What is a second wife entitled to Social Security?

Eligible spouses and ex-spouses can receive up to 100 percent of the late beneficiary’s monthly Social Security payment, if they have reached full retirement age, or FRA. For people claiming survivor benefits, FRA is currently 66.

What is the current age to collect Social Security retirement?

What Is My Social Security Retirement Eligibility Age? Social Security Retirement Age 60: If You Are a Widow/Widower. If you are a widow or widower, you can receive Social Security retirement benefits as early as 60. Earliest Normal Social Security Eligibility Age: 62. Full Retirement Age: Age 65-67 Depending on Date of Birth. Age 70: Wait and Accumulate Delayed Retirement Credits. The Bottom Line.

What is the best state to live on social security?

If you’re retiring on Social Security benefits alone, it can be tough to live well. U.S. News and World Report lists Albuquerque, New Mexico as one of the best places for retirees to maximize their Social Security benefits. If you want warm Florida weather without the high prices, consider Jacksonville.

What age is considered early for retirement?

Social Security Early Retirement Age. The Social Security Administration defines early retirement as age 62. If you begin taking Social Security benefits at age 62, you will receive a reduced benefit.

How will early retirement affect my social security?

Working During Early Retirement Can Affect Social Security. If you plan on working part-time during early retirement, you may find your Social Security benefits reduced. The reduction is based on something called the Social Security earnings limit and it only applies if you have not yet reached full retirement age.