Analyzing Early (Pre Full Retirement Age) Social Security Benefits (Audio)

As we continue down the Social Security clarity path from our Private Client Roundtable event earlier in the year, this week we dissect the early retirement benefit.

Taking Social Security Benefits Early

Early Bird

  • Age 62 is the earliest regular benefit, but is reduced monthly for early retirement
  • At age 62 you will receive between 70-75% of your full benefit had you waited until full retirement age
  • US Government actuaries estimate most will live 30 years after age 62 (yes, 92 at least)
  • About 50% of people take their Social Security at 62
  • Large number of remaining people take immediately after retirement, not at full retirement age
  • Taking benefits early has an approximate 12 year break even for waiting until full retirement age (roughly age 78 is crossover)

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There are several other interesting statistics included in the Audio!

Have a Great Day!

John A. Kvale CFA, CFP
8222 Douglas Ave # 590
Dallas, TX 75225


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