I went down to speak to SS as well as it was really confusing
I found out we can retire during any age from 62, 63, 64, etc. formerly I suspicion we had to do it during 62 or 65, no in betweens.
I additionally found out if we record during 62, we can shift your thoughts as well as ask to not retire during 62, if we have perceived income from your comment we will have to pay off it.
Can we discuss it me any tips?
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You can go to ssa.gov and request a personalized social security statement.
It will show your “normal” retirement age (varies depending on when you were born, has been getting higher). It will also show the reduced amount you can get at 62 and an even higher amount you can get if you delay beyond your normal retirement age.
You have to look at your total financial picture and consider your personal goals to decide when to retire. Consider all your sources of income (social security, pensions, investments). And you need to prepare a post-retirement budget. Start with your current monthly expenses and adjust. Some expenses MIGHT be lower (like commuting) but some expenses MIGHT be higher (like medical expenses, particularly if you have group medical coverage today). Assume at least a modest rate of inflation (perhaps 3 to 4%). It can be a tough thing to PROVE you are ready to retire unless your pension and investment income is WAY more than you need to live on.
If it’s a close call in the first year it will get even harder as inflation forces you to spend more each year to buy the same things if your income stays the same every year.