A financially secure retirement starts with making a plan. There are two main steps: start with how much money you’ll need and your priorities, then choose account types and investment selections. That might feel like a lot of work, but here’s what that breakdown looks like.
When can you retire?
When you can retire comes down to two things:
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When you’d like to retire.
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When you’ll have enough money to provide you with a reliable amount of retirement income.
While retirement age is different for everyone, the earliest you can claim Social Security retirement benefits is age 62
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. However, by filing at 62, you may sacrifice a portion of your benefits. That’s because if you were born in 1960 or later, the full retirement age (which is also the full Social Security benefits age) is 67. Your Social Security retirement benefit will actually increase for every year you delay retiring, up until age 70.
