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If your birth year is 1960 or after, your normal retirement age is 67. Anyone born between 1955 and 1959 has a normal retirement age between 66 and 67 that is, 66 plus a certain number of months. For instance, if you were born in 1958, your FRA is 66 and eight months.
How do I choose my retirement date?
Here are three of the biggest things to consider when choosing a retirement date. Income. Lifestyle. Future Expenses. End of the Month. Consider End of Pay Period. Lump Sums Can Provide Cash. Other Exceptions to Consider. Is it better to retire at the beginning or end of the month?
How do I calculate my retirement age from my date of birth?
Sometimes, you may want to calculate the retirement date which on the exact day of birth date after 60 years from the birth date, for example, if the person is born 5/18/1980, the exact retirement date will be 5/18/2040.
What is my retirement date based on date of birth?
Sometimes, you may want to calculate the retirement date which on the exact day of birth date after 60 years from the birth date, for example, if the person is born 5/18/1980, the exact retirement date will be 5/18/2040.
Is your retirement date the last day you work?
Your retirement date will always be the first of the month following your last day of work.
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People also ask
What is normal retirement date?
Understanding the Normal Retirement Age The normal retirement age in the United States varies from 65 years to 67 years, depending on the year of birth of an individual. The earliest age a person can claim Social Security benefits is 62 years, and the individual receives reduced monthly payments.
How to calculate retirement date from date of birth in Excel?
We can calculate this retirement date from the birth date. To do this, we need to use the EDATE and YEARFRAC functions in Excel.Calculating the Years Left till Retirement Go to cell E2. Assign the formula =YEARFRAC(TODAY(),D2) to cell E2. Press Enter to apply the formula to E2.
What is my retirement age if I was born in 1971?
Full retirement age is 66 for those born in 1954 and 67 for those born in 1960 or later -- it varies depending on your birth year. Video Player is loading. This is a modal window.
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