What’s Your Full Retirement Age If Born In 1956?

Full retirement age (FRA) for Social Security is the age you can receive Social Security benefits without reduction. That age used to be 65 for everyone. In 1983, it was changed to 67. Social Security has been gradually phasing in the increase between 1983 and now. People born in 1956 reach age 62 in 2018.…
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Is Age 65 Still Important For Social Security Retirement?

Q: Is age 65 still important for Social Security retirement? A: While age 65 is important as the starting age for Medicare, it has no special meaning for Social Security retirement anymore. Until the Social Security Amendments of 1983, retirement benefits were not reduced for age if you waited until age 65 before starting them.…
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A Question About Spousal Benefits

Q: I reach age 66 in August. A Social Security representative contacted me about my online retirement application. She said my wife could collect half of my amount when she reaches age 66 later this year and that she could later collect her own retirement at age 70. Is this correct? A: As a general…
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Retirement Amounts To A Couple

Q: Is there a limit to the amount of Social Security benefits payable to a couple?  A: This question is received so often that I routinely discuss it when teaching retirement seminars.  There is no marriage penalty, limit or other reduction when each member of a couple receives Social Security retirement based on their individual work records.  …
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Disability Or Retirement?

Q: At nearly age 64, I just stopped work because of a severe accident. Is it better to apply for Social Security disability or retirement? A: You can apply for either one or both at the same time. You chose what to do. Social Security disability depends on more than your immediate medical condition.  Based…
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