The retirement age in the U.S. is about to hit a new high next year.
Starting in 2026, Social Security’s “Full Retirement Age” will increase to 67 years old.
The increase will first impact the youngest Baby Boomers, or those born between 1960 and 1964, followed by Generation X, which spans 1965 to 1980.
“It’s frustrating,” 55-year-old Aaron Courteau of St. Paul said. “It’s disappointing. There’s also an aspect of what can you do about it. It’s a bit of a bait-and-switch. It is also the reality, that things change.”
You can choose to claim benefits at age 62 with a permanent reduction in the monthly pension amount.
When deciding to retire, experts say you should consider your health, work plans, and other income sources to improve your financial well-being.
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