What Is My Retirement Age If I Was Born In – Important Info
If you want to know what is my retirement age if I was born in a specific year, the ssa.gov retirement age site discussed below has important info that will inform this process. However, it is critical to note that this might only give you one piece of the retirement puzzle. In other words, the social security administration will merely provide you with when you will become eligible for your full retirement benefit. A lot of people just assume that they can retire at age 65 with their full benefits that they are entitled for. That, for many people, is not the case. For example, if you were born in 1961, it appears your age to receive your fully eligible retirement funds won’t occur until you are 67. Not everyone enjoys these when they turn 65. It seems that is dependent upon your year of birth. However, when people ask what is my retirement age if I was born before 1960, there might not be one simple number. In other words, people can choose to retire when ever they want to. It just means that you might not receive government related retirement funds you thought you might be eligible for at that elected time.
However, let’s begin with the important question of what is my retirement age for purposes of social security benefits. On the www.ssa.gov/retire2/retirechart.htm site, you will note different birth years in a chart starting with 1937 and before and goes through to 1960 and later. I was surprised to learn that there was such a discrepancy. I just assumed everyone was set to retire at age 65 and when I started looking seriously at my retirement planning, I got a shock. Thus, if you do not know what year you will be fully eligible for your qualifying benefits, take a minute to apprise yourself of that. As I was studying it, I thought to myself that there might be a few people who get a shock when they think they are going to retire with their full social security benefits at 65 and learn that they won’t be eligible until 67. Thus, this underscores why it is important that everyone begin their retirement planning in advance. Unfortunately, I know a lot of people who did not do any form of retirement planning and they are still working even though they are well past their official retirement age. When I see senior citizens working out of necessity versus out of choice, it makes me feel very sad.
Thus, this is the other side of the what is my retirement age question. Yes, ideally we all contribute and ideally we will be eligible soon for our benefits, but wouldn’t you like to retire when you determine it is right for you. That is my goal. The truth of the matter is many people like me will need the social security payments to survive after we stop working. However, I am striving to save now so that I can retire in advance of my official retirement age. Furthermore, I’m trying to plan well enough that any social security benefits I receive can be used for activities I want to do for enjoyment during retirement. I don’t want to be dependent upon them for my everyday expenses. I think this is a goal that everyone should strive for. Over the years, I have seen one too many people work until their official retirement age and then, when they do hang it up, they are too old to fully enjoy it because they have degrading health. As a result, if you haven’t already done so, you might see if your company has any retirement programs that you could participate in like a 401k plan or a pension.
I wish I had a pension like some of my friends. Many of them have defined benefit pension plans and have since retired with a wonderful income in their golden years. Other people, might rely on different ways to cover their expenses after they stop working. Some of my friends rely on investing to provide for themselves later on in life. Although I dream of being independently wealthy and have tried to plan and save, the reality is that I will be dependent upon my social security checks for my existence. Be sure to check out when you would be potentially eligible on the social security retirement age page. They even have a retirement age calculator section to help you. So confirm what your retirement age is and then spread the word to others. They might not know how to check and they might appreciate the heads up. Also, look in to setting up your own private retirement savings plans to help you retire earlier or to get more enjoyment out of your official retirement years.
The best of the web is brought to you by Hubsly.com