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What else can I help you with?
What is the most effective social security spouse strategy for maximizing benefits?
The most effective social security spouse strategy for maximizing benefits is often to wait until full retirement age to claim spousal benefits, while allowing your own benefits to grow until age 70. This can result in higher overall benefits for both spouses in the long run.
What are the implications of continuing to work after 70 on my social security benefits?
Continuing to work after the age of 70 can increase your social security benefits because you can delay claiming them, which can result in higher monthly payments. However, there is a limit to how much your benefits can increase, so it's important to consider your individual situation and consult with a financial advisor to make the best decision for your retirement planning.
do you have to withdraw fund when you turn 70 1/2 years old and are still working?
I assume that you are asking about IRA withdrawals since the 70 1/2 matches that timeline. As for your question, the RMD (or required minimum distribution) is the legally required withdrawal amount from your traditional IRA. This RMD is required starting at 70 1/2, doesn't matter if you are still working or haven't worked for 30 years this is the required starting age for the minimum withdrawal amount. There is, however, a waiver of the RMD in place for 2009.
What percentage of the world population are over the age of 18?
approximately 70%
Am I eligible for an IRA?
To be eligible for an IRA, you must have earned income and be under the age of 70.
Is the projected benefits at age 70 reduced if you don't work after age 66?
retiriment age benifits
Is Boehner for raising the retirement age for social security benefits to 70 years old?
Yes, today, Rep. Boehner, the minority leader of the Republican Party, stated that the retirement age, at which social security benefits may first be received, should be set at 70 years of age.
What is the retirement age if born in 1963?
The retirement age for someone born in 1963 is 67 years old to receive full Social Security benefits. However, you may choose to start receiving reduced benefits as early as age 62 or delay receiving benefits up to age 70.
Retirement age for those born in 1959?
For those born in 1959, the full retirement age to receive Social Security benefits is 66 years and 10 months. This means that individuals born in 1959 can start receiving full benefits at this age. However, they can choose to start receiving reduced benefits as early as age 62 or delay benefits up to age 70.
After drawing widows benefits can I at age 70 draw my benefits?
Yes, you can draw your own Social Security retirement benefits at age 70 after receiving widow's benefits. However, you will only receive the higher benefit amount, not both. It's important to consider the implications of switching benefits, as your own retirement benefit may be higher due to delayed retirement credits. Consulting with a Social Security representative can help clarify the best option for your situation.
What age can you start collecting CPP?
You can start collecting Canada Pension Plan (CPP) benefits as early as age 60. However, if you choose to take your CPP early, your monthly payments will be reduced. The standard age for receiving full CPP benefits is 65, and you can also choose to delay your benefits until age 70, which will increase your monthly payments.
What is retirement age for someone born in 1953?
For someone born in 1953, the full retirement age for Social Security benefits is 66 years old. However, individuals can choose to start receiving reduced benefits as early as age 62, or delay benefits up to age 70 to receive increased monthly payments.
What is the most effective social security spouse strategy for maximizing benefits?
The most effective social security spouse strategy for maximizing benefits is often to wait until full retirement age to claim spousal benefits, while allowing your own benefits to grow until age 70. This can result in higher overall benefits for both spouses in the long run.
What is full SS retirement age if born in 1950?
If you were born in 1950, your full Social Security retirement age is 66 years old. You can begin to receive benefits as early as age 62, but doing so will result in a reduced monthly benefit. If you delay retirement beyond age 66, your benefits will increase until you reach age 70.
Can people born in 1957 collect social security?
Yes, individuals born in 1957 can begin collecting Social Security retirement benefits as early as age 62. However, their full retirement age is 66 years and 6 months, meaning that if they choose to claim benefits before this age, their monthly payments will be reduced. Those who wait until reaching their full retirement age or even up to age 70 can receive higher monthly benefits.
When is full retirement if you were born in 1946?
If you were born in 1946, full retirement age for Social Security benefits is 66 years and 4 months. This means you can start receiving your full Social Security retirement benefits without any reduction in payments. However, you may choose to begin receiving reduced benefits as early as age 62, or delay benefits until age 70 to increase the monthly payment amount.
What are the implications of continuing to work after 70 on my social security benefits?
Continuing to work after the age of 70 can increase your social security benefits because you can delay claiming them, which can result in higher monthly payments. However, there is a limit to how much your benefits can increase, so it's important to consider your individual situation and consult with a financial advisor to make the best decision for your retirement planning.
