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Monthly payout - Young senior citizen

Posted: Jan 9th, 2017 - 8:22 pm In Reply to: Response - monthly payout

Anonie is right, $1200 a month is not guaranteed for everyone. They factor in how many years you worked, your highest earnings years and other things, it's based on how long you have paid into the system, not a predetermined number. I'm 62 and wanted to go early until I ran some numbers and found that it made a huge difference in my monthly allotment. I still contribute to a 401K as well so I chose to hang in there for as long as I can.


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