I'm 24 and am moving to another county so I would like to take whatever money I can take with me. Thanks
2007-07-05 06:58:01 · 5 answers · asked by Eliam P 1 in Business & Finance ➔ Taxes ➔ United States
You can never "cash out" your benefits.
Current law allows a person to start receiving Social Security benefits as early as age 62 at a reduced level. You will be able to start receiving your full social security benefits if you wait until your normal retirement age of 67.
2007-07-05 07:30:27 · answer #1 · answered by skipper 7 · 1⤊ 0⤋
No, you can't. Social Security is not an account like an IRS or 401K. You become eligible for payments at various ages depending upon a multitude of factors, generally 62-65. So, sorry, there is no account that you can cash out.
2007-07-05 07:24:09 · answer #2 · answered by taxman94066 2 · 0⤊ 0⤋
No, I don't know where you heard that, but whoever told you that you can cash it out whenever you want to is wrong.
2007-07-05 13:21:11 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
age 62-64 with penalty
age 65 full
2007-07-05 07:02:29 · answer #4 · answered by Nitch 2 · 1⤊ 1⤋
No you can't cash out your SS.
2007-07-08 17:36:17 · answer #5 · answered by K M 4 · 0⤊ 0⤋