Choosing a retirement date is an exciting time. Not only does it mean you no longer have to bust your hump at a nine-to-five for years on end, but it also signifies your transition into the next phase of your life–potentially the best phase of your life.

For many Americans, Social Security is a crucial component of retirement. The problem, however, is that there is a lot that people don't know about Social Security and a lot of inaccurate information about it.

Federal retirement isn’t one-size-fits-all. Discover how key work anniversaries and age milestones—from 5 to 30 years of service, and ages 55 to 62—can unlock critical benefits like pensions, health insurance, and penalty-free withdrawals. Plan your retirement with confidence.

For decades, public-sector retirees with state-backed pensions have faced reductions in their Social Security benefits due to the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These provisions were designed to adjust Social Security payments for those receiving government pensions. But now, that’s all changed.

You’re almost ready to retire, finally in the home stretch. You can see the finish line, and once you get there, the rest of your life will be nothing but playing golf and sipping piña coladas. The rest is in your financial advisor’s hands. After all, they got you to this point. Why wouldn’t they be able to get you through it?

In This Article:

In the journey of life, preparing for retirement can seem like a distant priority, especially if you’re a millennial focused on more immediate financial concerns like buying a home, repaying student loans, or saving for your children’s education.

The Social Security program allows you to start receiving benefits as soon as you reach age 62. But you can also defer up until age 70 and receive higher benefits. How do you decide the optimal time to take your benefits? Here are a few things to consider when making your decision.

Everyone has their own unique retirement timeline, needs and strategies. But thanks to factors like Social Security, Medicare and IRS rules, just about everyone will face retirement planning milestones in approximately the same order and at the same stage in life. Here are the major milestones you’ll face in retirement and the ages at which you’ll face them.