5. Age 62: Early Social Security retirement benefits
This is probably one of the most popular retirement milestones. If you qualify for Social Security benefits based on your own earnings history or that of a spouse or ex-spouse, you can usually start receiving those benefits once you turn 62.
You should know that your benefit will be slashed if you claim it before you reach what’s known as your full retirement age.
Read on to discover other retirement milestones!
6. Age 64¾: Medicare enrollment
As you approach age 65, it’s important not to miss your initial enrollment period for Medicare, the government program providing health insurance primarily for people who are at least 65.
This one-time enrollment period includes the three months before you turn 65, the month you reach this age, and the three months after. To put it another way, it starts around age 64¾. This is one of the most important retirement milestones everyone should know about.
Failing to enroll on time can cost you; not only will it delay your Medicare benefits, but it could also result in hefty, permanent financial penalties.
The good news is that if you’re already receiving Social Security benefits when you turn 65, the Medicare agent will contact you automatically, saving you the trouble of having to remember to sign up.
11 Responses
You don’t talk about exercise as a longevity enhancer. I’m 86 and I lift 20 lbs weights 3 times per week, do yoga 6 days per week, and walk at least 1-1/2 miles every day. I’ve been doing these exercises since I was 30. My doctor marvels at my blood pressure, I have no chronic diseases, take only 2 meds per day and am free of pain, except for occasional, mild, lower back pain. I’m grateful I do all these exercises because they sure beat surgery for knee or hip replacement and wlaking with a walker.
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