ok, this is for my dad, we live in Texas and he wants to know at what age he can retire if he was born in 1944 and also what kind of benifits he will get, should be work more, or retire now or what? I've looked all over the web and all that info gave me a headache so can someone serious please help me? ANY info will be appreciated! Thanx
2006-07-09 10:51:36 · 8 answers · asked by Trisha 1 in Business & Finance ➔ Careers & Employment
I think the social security benefit begins at 67 or somewhere around that. The government is out of money to pay, so it needs to increase the age requirement. At 65, you can still get the money you invested in 401k plan in full.
2006-07-09 11:00:46 · answer #1 · answered by 2feEThigh 5 · 0⤊ 0⤋
I feel your pain.
You will need to look at federal AND state taxes and benefits to get the full picture.
Call the fed. Social Security (SSA) office for help. The feds are gearing up for the baby boomers and assistance should be for the asking. Same for state agencies.
Hire a lawyer if you have the money.
Whatever you do, quit looking all over the Internet; you'll go nuts. I speak from experience with my mother and Medicare questions.
If your employer has an employee assistance program (EAP) they can be a big help too.
Good luck!
2006-07-09 18:19:12 · answer #2 · answered by baileybc 2 · 0⤊ 0⤋
Well the age of retirement is usually 65,so he is only 2 years short! This gives you plenty of time to find out if his employer offered him a retirement plan if not you can go to your employment agency near you city or the city hall and find out if he can get a pension or help. If he can still work and he is willing to he can too , I don't think that the check for retirement is that much though, good luck.
2006-07-09 18:03:40 · answer #3 · answered by Rick 77 O 2 · 0⤊ 0⤋
Well if you mean at what age he can retire with full benefits from Social Security then that would be age 65. If he wants he can retire earlier for a reduced benefit, or work longer for an increased benefit.
2006-07-09 17:55:30 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Under Social Security, your dad can retire as early as age 62 1/2.
Request from the Social Security Administration a "Earnings" form. From his social security taxes, over the years, they will inform him (you) what his retirement (monthly) payment will be at various ages.
2006-07-09 17:59:51 · answer #5 · answered by Puzzleman 5 · 0⤊ 0⤋
You should go to the Social Security website:
http://www.ssa.gov
Also, make an appointment with a counselor at your local Social Security office.
A lot will also depend upon if your Dad has a retirement plan from his current employer, how much money he has saved, etc
2006-07-09 18:03:28 · answer #6 · answered by ps2754 5 · 0⤊ 0⤋
66 years of age is when is can start collecting benefits....how much depends on his work history - call your local Social Security office and request a copy of his benefit statement...that will show what his monthly check would be.....however, it may be to his benefit to wait a couple of years before he starts collecting.
Personal retirement account withdrawals can begin at 59 1/2.
2006-07-09 18:02:38 · answer #7 · answered by Paula M 5 · 0⤊ 0⤋
I have no clue? call Social Security, In the white pages...
2006-07-09 18:10:41 · answer #8 · answered by wittster 3 · 0⤊ 0⤋