New research from the Transamerica Center for Retirement Studies reveals that many Americans retire earlier than anticipated, often due to circumstances beyond their control. This trend has significant financial implications, leaving many individuals unprepared for a long and financially secure retirement. By knowing the reasons behind unexpected early retirement, we can better plan for the … Read more
The Social Security Administration (SSA) is the federal agency responsible for sending out millions of benefit checks to more than 71 million beneficiaries in the United States. Established in 1935, the SSA continually evolves, making changes to its requirements and developing new rules for the Retirement, Survivors, and Disability Insurance (RSDI) and Supplemental Security Income … Read more
Choosing to receive Social Security retirement benefits at age 62 is an option available to all eligible Americans. However, opting for early benefits means accepting a reduction of about 30% in your monthly payments. This can significantly impact those who rely heavily on Social Security to cover their living expenses. Furthermore, recent announcements from the … Read more
Millions of Americans receive payments from the Social Security Administration (SSA), but only a small fraction qualify for the largest checks or direct deposits. Understanding how the SSA’s rules work is crucial to maximizing your retirement benefits. Early Retirement at 62 At age 62, the average Social Security payment is less than $1,300 per month. … Read more