How will retiring early impact my Social Security benefit?

Wondering how retiring early impacts your Social Security benefits? For long-term contributors to the Social Security system, retiring early may not drastically alter your benefits unless you’re skipping out on peak earning years. Withdrawing from Social Security before reaching full retirement age is generally not a good idea due to penalties, except in cases of financial necessity. For those looking to retire early (50-55 years old) or those part of the FIRE movement (aiming to retire by 40), the key is to have enough other resources to live off of before collecting Social Security benefits. Delaying Social Security until age 70 is a strategic move, offering the highest payout.

Contact us if you have more questions. Click here to schedule a consultation with one of our financial advisors.

Casey Smith
President, Wiser Wealth Management

Listen to Our Podcast:

learn-more-2024-new

Recent posts

  • REITs vs Direct Real Estate Investment: Which is Better?

Share This Story, Choose Your Platform!

Wiser Wealth Management, Inc (“Wiser Wealth”) is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). As a registered investment adviser, Wiser Wealth and its employees are subject to various rules, filings, and requirements. You can visit the SEC’s website here to obtain further information on our firm or investment adviser’s registration.

Wiser Wealth’s website provides general information regarding our business along with access to additional investment related information, various financial calculators, and external / third party links. Material presented on this website is believed to be from reliable sources and is meant for informational purposes only. Wiser Wealth does not endorse or accept responsibility for the content of any third-party website and is not affiliated with any third-party website or social media page. Wiser Wealth does not expressly or implicitly adopt or endorse any of the expressions, opinions or content posted by third party websites or on social media pages. While Wiser Wealth uses reasonable efforts to obtain information from sources it believes to be reliable, we make no representation that the information or opinions contained in our publications are accurate, reliable, or complete.

To the extent that you utilize any financial calculators or links in our website, you acknowledge and understand that the information provided to you should not be construed as personal investment advice from Wiser Wealth or any of its investment professionals. Advice provided by Wiser Wealth is given only within the context of our contractual agreement with the client. Wiser Wealth does not offer legal, accounting or tax advice. Consult your own attorney, accountant, and other professionals for these services.

Sign up for our newsletter!

Our latest blogs, podcasts, and educational videos delivered to your inbox weekly.