Social Security Quick Calculator at https://www.ssa.gov/oact/quickcalc/ to determine the monthly earnings (in today’s dollars) of someone born on June 30th 1960 whose income has been $50,000 per year, and who plans on retiring when they reach their full retirement age of 67 - in July 2027. b) a person may choose to retire before their full retirement age, although there is a penalty for doing so. Use https://www.ssa.gov/planners/retire/1960.html to determine how much this person would receive if they choose to receive Social Security Benefits at the minimum possible age of 62. c) How much will the person have received in benefits when they reach the age of 70 if i) they retire at 67, and ii) they retire at age 62
Social Security Quick Calculator at https://www.ssa.gov/oact/quickcalc/ to determine the
monthly earnings (in today’s dollars) of someone born on June 30th 1960 whose income has been
$50,000 per year, and who plans on retiring when they reach their full retirement age of 67 - in July
2027.
b) a person may choose to retire before their full retirement age, although there is a penalty for
doing so. Use https://www.ssa.gov/planners/retire/1960.html to determine how much this person
would receive if they choose to receive Social Security Benefits at the minimum possible age of 62.
c) How much will the person have received in benefits when they reach the age of 70 if i) they retire at 67,
and ii) they retire at age 62
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