Extend Age Release For Free

After the normal retirement age (NRA) reaches 67 for those age 62 in 2022, increase the NRA 1 month every 2 years until the NRA reaches 68. Memorandum containing this or a similar provision: Social Security Advisory Board 2005.

President Ronald Reagan signs the Social Security Act Amendment into law on April 20, 1983. Retirement ages were last altered in 1983 under then-President Ronald Reagan. Those changes, which raised the full retirement age to 67 from 65, are still being phased in today.

You can start your retirement benefit at any point from age 62 up until age 70. Your benefit will be higher the longer you delay starting it.

To acquire the full amount, you need to maximize your working life and begin collecting your check until age 70. Another way to maximize your check is by asking for a raise every two or three years. Moving companies throughout your career is another way to prove your worth, and generate more money.

But that doesn't mean you can't increase your benefit. If you're not earning a salary of at least $147,000, as long as you can increase your income even slightly, it will still result in larger checks each month.The $18,984 Social Security bonus most retirees completely overlook.

Retirement ages were last altered in 1983 under then-President Ronald Reagan. Those changes, which raised the full retirement age to 67 from 65, are still being phased in today.

However, that changed with the 1983 legislation signed by Reagan, which gradually pushed the full retirement age up to 67, depending on an individual's birth year. Additionally, individuals who delay claiming benefits past their full retirement age stand to receive up to 8% more per year up to age 70.