What are some factors to consider when trying to determine the appropriate age to start receiving Social Security benefits?
Deciding what age to retire and start collecting Social Security retirement benefits is a personal decision that depends on a persons financial resources, health, retirement plans and many other variables. There are some basic Social Security facts about the retirement age and the benefits a worker would receive that can help people make the decision that is right for them. Sometimes the question is not at what age I want to retire, it’s at what income. That is why you need to know what your full retirement age is as it relates to Social Security. You need to know what retiring earlier than your full retirement age might mean in actual dollars and cents. If you were born in 1941 and are planning to retire in 2006, your full retirement age will be 65 years and 8 months. What does this mean in terms of benefit payments? Thankfully, Social Security has a convenient online chart at www.socialsecurity.gov/retire2/retirechart.htm that you can use to get the information at a quick glance. For
