Part 3 from our Social Security Event earlier this year, Expert, Mr. Tom Clark, continued with the meat of Social Security, Retirement Benefits …. that Social Security Provides. Part 1 Here , Part 2 Here and Direct Audio Here on our site for your viewing/listening pleasures.
Social Security Retirement Age(s) Benefit(s)
- Retirement Benefits are available at age 62 at a discounted amount
- Benefits increase (discount fades) monthly until full retirement age
- Full Retirement age is a moving target based on laws changed in 1983 and implemented over several decades
- The attached chart shows exactly your full retirement age
- In 2019, you may have earnings up to $17,640 before tax penalties begin if you are drawing Social Security BEFORE full retirement age
- Via Social Security Administration – In the year you reach full retirement age, we deduct $1 in benefits for every $3 you earn above a different limit. In 2019, the limit on your earnings is $46,920 but we only count earnings before the month you reach your full retirement age.
| Year of Birth * | Full Retirement Age |
|---|---|
| 1937 or earlier | 65 |
| 1938 | 65 and 2 months |
| 1939 | 65 and 4 months |
| 1940 | 65 and 6 months |
| 1941 | 65 and 8 months |
| 1942 | 65 and 10 months |
| 1943 – 1954 | 66 |
| 1955 | 66 and 2 months |
| 1956 | 66 and 4 months |
| 1957 | 66 and 6 months |
| 1958 | 66 and 8 months |
| 1959 | 66 and 10 months |
| 1960 and later | 67 |
Multiple Audio for Different Devices – Mr. Tom Clark – If first does not work, click next file – all are same audio, just different formats
Wave file format:
MP3 File Format:
OGG File Format:
M4A File Format:
As a last resort – Click Here for Direct Link to Audio Posted on our Special Social Security Page
Have a Great “Understanding Social Security Retirement/Early Age Benefits” Day!
John A. Kvale CFA, CFP