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Brown Cafe UPS Forum
UPS Retirement Topics
Retirement tip
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<blockquote data-quote="Just Lurking" data-source="post: 254384" data-attributes="member: 5304"><p>SatelliteDriver </p><p></p><p>The SS penalty only applies for the time period between early and full retirement ages for SS. </p><p></p><p>My dad started pulling SS at age 62. Once he earned ~$12k he lost $1 for $2 that you mentioned. SS told him that once he turns 65 that the penalty will go away.</p><p>For us younger guys, I know that my full retirement age for SS is 67. It depends on your birth year.</p><p></p><p>Separately, you have to withdraw a mandated amount from your 401(k) once you reach 70 1/2 depending on life expectancy.</p></blockquote><p></p>
[QUOTE="Just Lurking, post: 254384, member: 5304"] SatelliteDriver The SS penalty only applies for the time period between early and full retirement ages for SS. My dad started pulling SS at age 62. Once he earned ~$12k he lost $1 for $2 that you mentioned. SS told him that once he turns 65 that the penalty will go away. For us younger guys, I know that my full retirement age for SS is 67. It depends on your birth year. Separately, you have to withdraw a mandated amount from your 401(k) once you reach 70 1/2 depending on life expectancy. [/QUOTE]
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