Ask most baby boomers what the normal retirement age is and they will tell you 65. That’s when Medicare coverage begins. And that used to be the age when you could begin collecting full Social Security benefits.
Though age 62 has also been a popular retirement age, the point at which you can begin receiving Social Security, though at a reduced level. When money was flowing, and housing prices escalating, a high number of people jumped on the age 62 retirement band wagon.
Then came the recession.
So do you have to work forever? Or is 70 the new retirement age?