Quote:
Originally Posted by downandlonely
I'll be 39 in a few days. I'm not counting on social security even still being around when I get old enough. Plus it won't be enough to live on. Most companies don't do pensions anymore. I have a 401(k) plus other retirement accounts. I doubt I'll get social security before 70 at this rate. I think it's 67 now.
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I believe that you can apply for social security benefits as early as age 62 - it's just that if you elect to retire early and start getting payments before the full retirement age of 70, you'll get less money.
It's similar to my sheetmetal workers pension. The minimum retirement age is 55, but I could wait until the full retirement age of 60 and get the full amount. I elected to retire early, so I don't get the full amount.
Something to look into?
And perhaps your 401(k) and other retirement accounts will be able to provide you with a comfortable retirement?
My wife and I also have other retirement accounts. I've been saving money for retirement since I was in my late 20's and my wife's employer contributes to her retirement account. I think we'll be able to retire completely when I am 65 and be able to draw an amount equal to our current income from our retirement accounts - but I am assuming we'll both be getting social security checks as well (knock on wood).