3 Reasons Not to Retire Before 65
Early retirement might seem like a dream, but if you're considering giving up your career for a life of leisure before your 65th birthday, you could be setting yourself up for some serious financial struggles later on. While 65 used to be full retirement age (FRA) for Social Security,, that's no longer the case. If you start your benefits before then, you're subject to monthly penalties that add up to reduce benefits by 6.7% for each of the first three years you're early and an additional 5% for years before that.
