When Can I Claim Social Security Benefits?
The first eligible age the you are allowed to collect Social Security benefits is age 62. From age 62-70, your Social Security benefits increase. Determining when you should collect social security benefits should be based on your working history, family circumstances, and current health.
Social Security Benefits based on Age:
62-70% of Social Security Benefits
67-100% of Social Security Benefits
70-124% of Social Security Benefits
How you qualify for Social Security Spousal Benefits
(Married):
1. You are at least 62–unless you are caring for a child under 16 or permanently disabled.
2. You have been married to your spouse for at least 12 months
3. Your spouse is already receiving social security retirement benefits
How you qualify for Social Security Spousal Benefits
(Divorced):
1. You are not remarried
2. Your ex-spouse is over 62 (Does not have to be claiming Social Security Benefits)
3. Married for at least 10 years
4. If ex-spouse is deceased (see below)
How you qualify for Social Security Spousal Benefits
(Widowed):
1. 100% of Spouse’s social security benefit if you wait until FRA
2. Remarriage does not impact social security spousal benefits
How to find out how much social security you will receive:
1. Go to SSA.gov
2. Create an account
3. Look for your most recent social security statement
Retirement income strategies and retirement income planning are two big pieces to anyones retirement planning calculator. Whether you are wanting to know strategies for “retirement planning at 30”, “retirement planning at 40”, “retirement planning at 50”, or even “retirement planning at 60” understanding how much retirement income that you want versus how much you need gives you a roadmap to follow to and through retirement.
Here at Pearl Wealth Group, we run a trademarked retirement investment and retirement income plan for individuals and families who are wanting to retire called “Your Financial EKG™.” What we are trying to visualize is how long a persons retirement savings are going to last throughout retirement. If you are looking for early retirement planning tips or trying to saving for retirement in your 50’s, You Financial EKG™ is a great tool to help you understand where you are retirement planning. Retirement planning and retirement income strategies shouldn’t be complicated. They should just be done right.
**To schedule your virtual retirement and investment consultation with Drew, please select a day & time that works best for you: https://calendly.com/pearlwealthgroup/discoverycall ** ☎️
❌ **Please make sure you talk with your CPA, Financial Advisor, Retirement Planner, or Investment Advisor Representative, before implementing any content from this channel. All videos are for informational and educational purposes only. None of the content, comments, responses, information, or any other item on this channel constitutes financial advice or recommendations. Please call Pearl Wealth Group at 813-807-5060 to go through your Retirement Income, Retirement Investments, or Retirement Plan in more detail.** ❌