Can you retire at 60 and get benefits?
Can you retire at 60 and get benefits? The traditional age of retirement is 65, but it's possible to retire at age 60 with planning. Obstacles to early retirement include lack of access to Social Security benefits and Medicare. However, on the plus side 60-year-olds can withdraw from retirement accounts without penalty.
What are the disadvantages of retiring at 62?
The cons of early retirement include: Years of no income. A potential health insurance crunch. A loss of meaning.
What benefits do I get now I am 60?
Here's how getting older can save you money:
- Senior discounts.
- Travel deals.
- Tax deductions for seniors.
- Bigger retirement account limits.
- No more early withdrawal penalty.
- Social Security payments.
- Affordable health insurance.
- Senior services.