Retirement age is a very important time for U.S. citizens. This is when most stop working to begin collecting Social Security. While it is true that many retirees continue to work part-time, this is not the most common. The most common among retirees is to collect only Social Security, despite the advice of most experts in the field. Another great piece of advice is not to apply for retirement too early, as that would mean that we would collect less money than we are entitled to. To collect 100% of the money contributed as workers, it is mandatory to wait until the age of 67. This is the case at the moment, although it could change in the future.
But there is a main reason to apply for retirement at 62. Although we will see a reduction of approximately 30%, it may be worth it. That’s because many of the retirees at that age who file for Social Security don’t need it anymore. But the main reason is basically life expectancy. Not all United States citizens have the same life expectancy. For that reason it is a good idea to apply for early retirement. Retirement age with those years could be a beneficial thing if we take that into account. Retirement should be enjoyed for as long as possible.
In this case, there are ways to supplement the Social Security benefit in order not to have financial problems in the future. In addition to that, it is also advisable to have a good retirement plan and start doing it well in advance. With a good retirement plan, the future will be much better. There are measures we can take while we are working, so you can follow some tips.
Tips for applying for Social Security at age 62
When it comes to applying for retirement at age 62 there are some good tips to follow. Some of them will help you have a better Social Security, although others will help you raise your finances a bit.
- Have a good salary as a worker. During your time as a worker, try to have a good salary. The higher your taxes, the higher your Social Security benefits.
- Work as long as you can. If you work for 35 years before applying for retirement, so much the better. If you can’t work that many years, work as long as you can.
- Create a pension plan. Save during your retirement years. This won’t make your Social Security check bigger, but it will make it so you don’t need it.
Therefore, if you save and work as long as you can at a good salary, when you apply for Social Security at age 62 you will have a better chance of living well into your golden years.