Should You Plan to Retire at 62?

Should You Plan to Retire at 62?

Many Americans aim to retire at the age of 62 because it's the earliest age to begin collecting Social Security. Many people struggle to save independently for retirement, and gone are the days when the majority of workers were entitled to a generous pension once their careers wrapped up. Workers are entitled to their full monthly Social Security benefit at full retirement age (FRA), which kicks in at 66, 67, or somewhere in between, depending on year of birth.