Social Security Administration. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'remodelormove_com-banner-1','ezslot_16',157,'0','0'])};__ez_fad_position('div-gpt-ad-remodelormove_com-banner-1-0');if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'remodelormove_com-banner-1','ezslot_17',157,'0','1'])};__ez_fad_position('div-gpt-ad-remodelormove_com-banner-1-0_1');.banner-1-multi-157{border:none!important;display:block!important;float:none!important;line-height:0;margin-bottom:15px!important;margin-left:auto!important;margin-right:auto!important;margin-top:15px!important;max-width:100%!important;min-height:250px;min-width:250px;padding:0;text-align:center!important}. It allows those looking to retire earlier than normal or those who need the cash flow a way to take distributions from their retirement plans sooner than is typically allowed. The only limit is your imagination! The maximum Social Security benefit for 2023 is $4,555 per month or $54,660 per year. Claiming Social Security benefits could make you ineligible to put more money into a health savings account (HSA). If you foresee an above-average life expectancy for yourself, then you may come out ahead by waiting to claim benefits. We would highly recommend using Live Love Bean for your next gift. So far our clients have loved this year's Christmas gift. Our goal is to give you the best advice to help you make smart personal finance decisions. Once at their FRA, the surviving spouse is entitled to 100% of the deceased spouses benefit or their own benefit, whichever is higher. If you file before reaching full retirement age, your benefit is reduced whether you work or not. With A Recession Looming, Take These 3 Retirement Moves To Stay On Track, Learn To Master Your Money With These Financial Tips, Financial Insight in Your Inbox: Sign Up for GBR's Daily Newsletter. Our editors and reporters thoroughly fact-check editorial content to ensure the information youre reading is accurate. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[580,400],'remodelormove_com-large-leaderboard-2','ezslot_15',158,'0','0'])};__ez_fad_position('div-gpt-ad-remodelormove_com-large-leaderboard-2-0'); The best way to learn about your specific retirement plan is to contact your employer or the company that is providing you with the retirement plan.
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