Navigating Social Security: Retirement Age, Benefits, and Strategies.

Retirement age in the US is flexible, with access to retirement savings in late 50s and Social Security benefits in early 60s. Full Social Security benefits kick in at 66 or 67, depending on birth year. Retirement age depends on savings, cost of living, and retirement plans. At 59.5, people can withdraw from tax-advantaged retirement savings accounts without penalty. At 65, people become eligible for Medicare. The full retirement age is 67 for those born in 1960 or later. Delaying Social Security retirement benefits increases benefits by 8% annually until age 70. Retirement age has increased to an average of 61, up from 57 in 1991.