Skip to main content

Here's Why You Can't Receive Social Security at Age 62


It’s a shock to some people when they find out they can’t receive Social Security benefits as soon as they turn 62. The SSA has A LOT of strange rules. But there’s one that takes this to a whole new level and its called the “day before” rule. This rule says that your Social Security birthday is the day before your actual birthday. This has a lot of impact in the Social Security system including a big impact to when you can receive Social Security benefits. ➡️Get the Ultimate Social Security Cheat Sheet! It takes the essential information from the 100,000 page Social Security website and condenses it down to just one page! ➡️Get the retirement planning Cheat Sheet! This simplifies the contributions and income limits, tax tables, and other important rules to just one page. Don’t miss my free online workshop, “How to Choose the RIGHT Age to File for Social Security.” In this workshop you’ll learn: ✔The Most Important Factors to Consider BEFORE You File for Benefits ✔Why Filing Early Can Be the Best Strategy ✔Why This Is The Biggest Decision of Your Retirement Access the workshop today at this link ➡️Get a copy of my newly revised book here -- ➡️Want to schedule a consultation with Devin? See ➡️Simple Questions? Join my FREE Facebook Group! ➡️If your question is about the WEP/GPO, join this Facebook group instead See Disclosures Below ⭐⚠️⭐Please read this⭐⚠️⭐ I am an actual practicing financial planner, but I'm not YOUR financial planner. Don't take what I say as specific advice for your situation. Please consult with your own tax, legal and financial advisors. 🙇🙇🙇🙇🙇 ---------------------------------------------------------------------------------------------------- ⚠️I am not an attorney or SSDI advocate. Furthermore, since I don’t really know you, I can’t give you advice. Please don’t take this video as specific advice for your specific situation. Consult your own tax, legal and financial advisors. -----------------------------------------------------------------------------------------------------...(read more)


LEARN MORE ABOUT: IRA Accounts
CONVERTING IRA TO GOLD: Gold IRA Account
CONVERTING IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
As retirement planning becomes more and more important, it is essential to know when you can start taking Social Security benefits. Some may believe that they can begin receiving benefits at 62, but this is not always the case. Here's why. One of the main factors is retirement age. The Social Security Administration considers your "full retirement age" to be between 66 and 67, depending on the year you were born. If you choose to take your benefits as early as age 62, your monthly payments will be reduced by as much as 30%. Another consideration is income. If you exceed a certain income threshold while receiving benefits, you may have to give some of that money back to the government through taxes. If you claim benefits before full retirement age, there is a cap on how much you can earn without penalty, currently set at $18,240 per year. It is important to note that claiming Social Security benefits at age 62 is not always a bad decision. If you are in poor health or have a family history of early mortality, claiming early may be the smart decision. On the other hand, if you expect to live a long and healthy life, delaying your benefits until full retirement age or even beyond can be a smarter move. In addition, if you continue working and earning a significant income, delaying benefits may allow you to maximize your payments in the long run. By waiting until full retirement age, you can avoid any reduction in benefits and potentially earn delayed retirement credits, increasing your monthly payments. In conclusion, while it is true that you can begin receiving Social Security benefits at age 62, it may not always be the best decision. Understanding your full retirement age, income thresholds, and personal situation can help you make the best decision for your retirement needs. https://inflationprotection.org/heres-why-you-cant-receive-social-security-at-age-62/?feed_id=88740&_unique_id=643d8383c0933 #Inflation #Retirement #GoldIRA #Wealth #Investing #DevinCarroll #Retirement #retirementplanning #socialsecurity #socialsecuritydisability #SpousalIRA #DevinCarroll #Retirement #retirementplanning #socialsecurity #socialsecuritydisability
Labels:

Comments

Post a Comment

Popular posts from this blog

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for ...
Post a Comment
Read more

Birch Gold Group Review 2023 – Best Gold IRA Company? Pros and Cons

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. See chapters in the description. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Chapters: 0:00 - Intro 0:26 - Is Gold a Good Investment? 1:03 - What is Birch Gold Group? 1:37 - IRA Eligible Coins 1:59 - Is Birch Gold Group a Legitimate Company? 2:50 - How Does Birch Gold Group Work? 3:34 - Birch Gold Group’s Fees and Investment Options 4:02 - Birch Gold Group Low Minimum Investment 4:29 - Birch Gold Group Storage and Security 5:34 - Con #1 – No Overseas Storage Options 5:49 - Con #2 – Initial Setup Fees 6:02 - Birch Gold Group Review Summary Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch...
Post a Comment
Read more