Early Retirement Chart

On this page you can find an early retirement chart for these categories: The age chart for tapping retirement savings accounts and benefits, the age chart for receiving full social security retirement benefits, and the social security chart showing benefit reductions for early retirement.


Access Retirement Accounts and Benefits

early retirement accounts chart

As shown in the chart above, the earliest you can tap retirement savings is age 55 if you retire from the job where you hold the account at age 55 or later.

In that case you can access the 401k from that job. (Accounts related to jobs you leave before this age won’t be available until age 59 1/2 unless you want to pay the early withdrawal penalty.)

At age 59 1/2 you can access any retirement savings accounts, such as IRAs or 401ks.

The earliest you can access Social Security retirement benefits is age 62, and at that age the benefit will be lower than the amount you would get at full retirement age.

Full Retirement Age Chart

early retirement chart social security

The second chart (above) shows what your full retirement age is, according to your year of birth. Full retirement age is 67 for people born in 1960 or later. Also, Congress can change these rules at any time, so it is a good idea to check the social security website every few years if you are not near retirement age now.

Benefit Reduction Schedule for Social Security Retirement Benefits

early retirement chart social security

The third chart shows the reduction amounts if you retire before full retirement age, based on a $1000 full retirement benefit.

For example, if your birth year is between 1943 and 1954 and you claim social security benefits at age 62, and your full retirement benefit would be $1000, your early retirement benefit amount will be reduced by 25% and you would get $750 at age 62.

source: http://ssa.gov/retire2/agereduction.htm

Also, if you find this chart at http://ssa.gov/retire2/agereduction.htm you can click on your birth year and find out what the interim amounts would be if you retire between age 62 and age 66.


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