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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 10149
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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I will be 66years old on July 2, 2016. I want to go ahead &

Customer Question

I will be 66years old on July 2, 2016. I want to go ahead & retire in April of 2016 .Do I need to wait until July or go ahead in April ? How much will I lose by retireing early?
Submitted: 9 months ago.
Category: Social Security
Expert:  Lane replied 9 months ago.

Hi,

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You're choosing to receive benefits 3 months before you reach your normal retirement age. Your benefit will be 98.33 percent of your primary insurance amount.

Expert:  Lane replied 9 months ago.

Said differently, that's losing 1.67% of the benefit.

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I hope this has helped.

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Please let me know if you have any questions at all.

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If this HAS helped, I'd really appreciate a positive rating (using the rating request, faces, or stars on your screen)

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That's the only way I'll be credited for the work here.

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Thank you!

Lane

I hold a JD (Juris Doctorate, a doctoral degree in the law), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in finance & tax, as well as CFP® and CRPS designations. - I’ve been providing financial, Social Security & Medicare, estate, corporate & tax advice since 1986

Expert:  Lane replied 9 months ago.

Did you see my answer?

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let me know if I can help further

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Lane