{"id":2964,"date":"2014-01-24T06:38:33","date_gmt":"2014-01-24T14:38:33","guid":{"rendered":"http:\/\/staging-prblog.paladinregistry.com\/blog\/?p=2964"},"modified":"2014-01-23T17:39:59","modified_gmt":"2014-01-24T01:39:59","slug":"full-retirement-age-impact","status":"publish","type":"post","link":"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/","title":{"rendered":"How Does Full Retirement Age Impact You?"},"content":{"rendered":"

\"What<\/a>Full retirement age is already 70 and not 62, 65, or 67. This is the age when full retirement benefits kick in. Anything less than 70 and you receive a discounted amount of the full retirement benefit. Why 70? The government has determined this is the age when most people have stopped working. I wonder if companies with mandatory retirement ages <\/a>know about this.<\/p>\n

Don\u2019t confuse full benefits with Full Retirement Age (FRA). The Social Security Administration (SSA) calculates FRA as 66 if you were born between 1943 and 1954. It moves FRA to 67 if you were born after 1960. But, you still have to wait to age 70 to receive the full amount of retirement benefits.<\/p>\n

How tricky is this process? The SSA uses smoke and mirrors when it says you get 100% of benefits at age 66 and 132% of benefits if you wait to start taking payments until you reach age 70. Any way you slice it you do not receive full benefits until you are 70 and this number may continue to rise as more people live longer lives.<\/p>\n

The 132% benefit is the SSA\u2019s way of betting on mortality tables. If you could predict your death at age 75 you would be better off starting the benefit at age 66. If you live to be 80 or more you would be better off waiting to age 70. But, who can predict date of death? No one, but mortality tables use the laws of large numbers.<\/p>\n

Also note that age 70 is within six months of the age (70.5) for taking mandatory distributions from your IRAs. It this another hidden message from the government? You should retire at age 70 when you receive maximum SSA payments and you are penalized if you don\u2019t take distributions from your IRA? 70 is beginning to look a lot like the magic number for retirement planning<\/a>.<\/p>\n

Will this make sense for the millions of Baby Boomers <\/a>who will not be able to afford retirement at any age? Probably not, but at least the intent of the government is becoming clearer. Don\u2019t be shocked if the full retirement benefit age rises to 72 in the next couple of years.<\/p>\n","protected":false},"excerpt":{"rendered":"

Full retirement age is already 70 and not 62, 65, or 67. This is the age when full retirement benefits kick in. Anything less than 70 and you receive a discounted amount of the full retirement benefit. Why 70? The government has determined this is the age when most people have stopped working. I wonder if companies with mandatory retirement ages know about this. Don\u2019t confuse full benefits with Full<\/p>\n","protected":false},"author":2,"featured_media":2968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[117],"tags":[],"class_list":["post-2964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retirement"],"yoast_head":"\nHow Does Full Retirement Age Impact You? Retirement Benefit Planning<\/title>\n<meta name=\"description\" content=\"What is the full retirement age? We explore the basics of retirement and the full retirement age and how it can effect your long-term retirement benefits.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Does Full Retirement Age Impact You? Retirement Benefit Planning\" \/>\n<meta property=\"og:description\" content=\"What is the full retirement age? We explore the basics of retirement and the full retirement age and how it can effect your long-term retirement benefits.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/\" \/>\n<meta property=\"og:site_name\" content=\"Paladin Registry Blog\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/PaladinRegistry\" \/>\n<meta property=\"article:published_time\" content=\"2014-01-24T14:38:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2014-01-24T01:39:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2014\/01\/full-retirement.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"280\" \/>\n\t<meta property=\"og:image:height\" content=\"180\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jack Waymire\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@PaladinRegistry\" \/>\n<meta name=\"twitter:site\" content=\"@PaladinRegistry\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jack Waymire\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/\",\"name\":\"How Does Full Retirement Age Impact You? Retirement Benefit Planning\",\"isPartOf\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2014\/01\/full-retirement.jpg\",\"datePublished\":\"2014-01-24T14:38:33+00:00\",\"dateModified\":\"2014-01-24T01:39:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/4f94af521e23212d5ffd08618ecb46c0\"},\"description\":\"What is the full retirement age? We explore the basics of retirement and the full retirement age and how it can effect your long-term retirement benefits.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/#primaryimage\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2014\/01\/full-retirement.jpg\",\"contentUrl\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2014\/01\/full-retirement.jpg\",\"width\":280,\"height\":180},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.paladinregistry.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Retirement\",\"item\":\"https:\/\/www.paladinregistry.com\/blog\/category\/retirement\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"How Does Full Retirement Age Impact You?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#website\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/\",\"name\":\"Paladin Registry Blog\",\"description\":\"Helping You Make Better Financial Decisions\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.paladinregistry.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/4f94af521e23212d5ffd08618ecb46c0\",\"name\":\"Jack Waymire\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/05\/Screen-Shot-2017-05-16-at-8.06.55-AM-96x96.png\",\"contentUrl\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/05\/Screen-Shot-2017-05-16-at-8.06.55-AM-96x96.png\",\"caption\":\"Jack Waymire\"},\"description\":\"Jack Waymire worked in the financial services industry for 28 years before he left to found the Paladin Registry (www.PaladinRegistry.com) in 2004. This investor education website was based on the Principles in Jack\u2019s first book: \\\"Who\u2019s Watching Your Money?\u00a0The 17 Paladin Principles for Selecting a Financial Advisor.\\\" Jack is also the co-author of \\\"5 Steps for Selecting the Best Financial Advisor (How the Internet has changed the game for investors and advisors)\\\". Beginning in 2004,\u00a0Paladin began vetting and documenting advisor credentials, ethics, business practices and services for investors. The Registry also has a free service that matches investors to advisors who meet Paladin\u2019s minimum requirements for competence and trustworthiness.\",\"sameAs\":[\"https:\/\/www.paladinregistry.com\",\"https:\/\/www.facebook.com\/PaladinRegistry\",\"http:\/\/www.linkedin.com\/in\/jackwaymire\",\"https:\/\/x.com\/PaladinRegistry\"],\"url\":\"https:\/\/www.paladinregistry.com\/blog\/author\/jack-waymire\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How Does Full Retirement Age Impact You? Retirement Benefit Planning","description":"What is the full retirement age? We explore the basics of retirement and the full retirement age and how it can effect your long-term retirement benefits.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/","og_locale":"en_US","og_type":"article","og_title":"How Does Full Retirement Age Impact You? Retirement Benefit Planning","og_description":"What is the full retirement age? We explore the basics of retirement and the full retirement age and how it can effect your long-term retirement benefits.","og_url":"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/","og_site_name":"Paladin Registry Blog","article_author":"https:\/\/www.facebook.com\/PaladinRegistry","article_published_time":"2014-01-24T14:38:33+00:00","article_modified_time":"2014-01-24T01:39:59+00:00","og_image":[{"width":280,"height":180,"url":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2014\/01\/full-retirement.jpg","type":"image\/jpeg"}],"author":"Jack Waymire","twitter_card":"summary_large_image","twitter_creator":"@PaladinRegistry","twitter_site":"@PaladinRegistry","twitter_misc":{"Written by":"Jack Waymire","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/","url":"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/","name":"How Does Full Retirement Age Impact You? Retirement Benefit Planning","isPartOf":{"@id":"https:\/\/www.paladinregistry.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/#primaryimage"},"image":{"@id":"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/#primaryimage"},"thumbnailUrl":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2014\/01\/full-retirement.jpg","datePublished":"2014-01-24T14:38:33+00:00","dateModified":"2014-01-24T01:39:59+00:00","author":{"@id":"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/4f94af521e23212d5ffd08618ecb46c0"},"description":"What is the full retirement age? We explore the basics of retirement and the full retirement age and how it can effect your long-term retirement benefits.","breadcrumb":{"@id":"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/#primaryimage","url":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2014\/01\/full-retirement.jpg","contentUrl":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2014\/01\/full-retirement.jpg","width":280,"height":180},{"@type":"BreadcrumbList","@id":"https:\/\/www.paladinregistry.com\/blog\/retirement\/full-retirement-age-impact\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.paladinregistry.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Retirement","item":"https:\/\/www.paladinregistry.com\/blog\/category\/retirement\/"},{"@type":"ListItem","position":3,"name":"How Does Full Retirement Age Impact You?"}]},{"@type":"WebSite","@id":"https:\/\/www.paladinregistry.com\/blog\/#website","url":"https:\/\/www.paladinregistry.com\/blog\/","name":"Paladin Registry Blog","description":"Helping You Make Better Financial Decisions","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.paladinregistry.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/4f94af521e23212d5ffd08618ecb46c0","name":"Jack Waymire","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/05\/Screen-Shot-2017-05-16-at-8.06.55-AM-96x96.png","contentUrl":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/05\/Screen-Shot-2017-05-16-at-8.06.55-AM-96x96.png","caption":"Jack Waymire"},"description":"Jack Waymire worked in the financial services industry for 28 years before he left to found the Paladin Registry (www.PaladinRegistry.com) in 2004. This investor education website was based on the Principles in Jack\u2019s first book: \"Who\u2019s Watching Your Money?\u00a0The 17 Paladin Principles for Selecting a Financial Advisor.\" Jack is also the co-author of \"5 Steps for Selecting the Best Financial Advisor (How the Internet has changed the game for investors and advisors)\". Beginning in 2004,\u00a0Paladin began vetting and documenting advisor credentials, ethics, business practices and services for investors. The Registry also has a free service that matches investors to advisors who meet Paladin\u2019s minimum requirements for competence and trustworthiness.","sameAs":["https:\/\/www.paladinregistry.com","https:\/\/www.facebook.com\/PaladinRegistry","http:\/\/www.linkedin.com\/in\/jackwaymire","https:\/\/x.com\/PaladinRegistry"],"url":"https:\/\/www.paladinregistry.com\/blog\/author\/jack-waymire\/"}]}},"_links":{"self":[{"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/posts\/2964"}],"collection":[{"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/comments?post=2964"}],"version-history":[{"count":3,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/posts\/2964\/revisions"}],"predecessor-version":[{"id":2969,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/posts\/2964\/revisions\/2969"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/media\/2968"}],"wp:attachment":[{"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/media?parent=2964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/categories?post=2964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/tags?post=2964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}