What am I entitled to when I turn 60?

While full Social Security retirement benefits don't begin until later, reaching age 60 is a significant milestone that unlocks a range of valuable benefits and discounts. Knowing what am I entitled to when I turn 60 can significantly help with financial planning and transitioning into the next phase of life with confidence.

Quick Summary

Turning 60 makes you eligible for specific benefits, most notably reduced Social Security survivors benefits if you are a widow or widower. You also gain access to numerous senior-specific discounts and may qualify for state and local assistance programs based on income.

Key Points

• Social Security Survivors Benefits: Widows, widowers, and some divorced spouses may begin collecting reduced Social Security survivors benefits at age 60, based on their deceased spouse's earnings record.

• AARP Membership Perks: You become eligible for the full range of AARP discounts and programs once you are 50, which you can utilize at 60 for savings on travel, insurance, and more.

• Senior Discounts: Many private businesses, from restaurants to retail stores, offer special discounts for individuals 60 and older, though policies vary by location.

• Low-Income Assistance: Individuals with limited income may qualify for government-funded assistance programs like SNAP (Supplemental Nutrition Assistance Program) for food and LIHEAP for energy bills.

• Tax Help: Free tax counseling and preparation services for individuals aged 60 and older are available through the Tax Counseling for the Elderly (TCE) program.

• Planning and Exploration: Age 60 is an excellent time to use resources like the SSA's retirement planners and the Eldercare Locator to prepare for the benefits that become available at 62 (early retirement) and 65 (Medicare).

Social Security Benefits at Age 60

While personal Social Security retirement benefits typically start at 62, age 60 is significant for survivors' benefits. Widows or widowers can begin collecting reduced Social Security benefits based on their deceased spouse's earnings. This offers essential support for those who have lost a partner.

Strategic Claiming for Survivors

Survivors eligible for both their own retirement and a spouse's benefit have options. They can claim one benefit and switch to the other later to potentially maximize lifetime income, especially since delaying personal retirement benefits past full retirement age increases monthly payments. The Social Security Administration provides tools and counselors to help compare strategies. Full retirement age is generally 67 for those born in 1960 or later, but survivors can start receiving benefits earlier at 60.

Health and Wellness Resources

Medicare eligibility starts at 65. However, at 60, other health-related resources are available:

• AARP Membership: Individuals 18 and older can join AARP, but many benefits like auto insurance discounts are for those 50+. Membership offers extensive discounts and information.
• Health Insurance: Employer-sponsored plans may continue if still working. Otherwise, the Health Insurance Marketplace or Medicaid based on income are options.
• Wellness Programs: Programs like SilverSneakers offer fitness access, often through Medicare Advantage, but sometimes via other insurance or memberships, promoting physical activity.

Unlocking Discounts and Special Offers

Age 60 is a gateway to various age-based discounts from businesses, offering savings on everyday expenses.

Category	Examples of Discounts at Age 60+	Details
Dining	Burger King, Ben & Jerry's, El Pollo Loco, Subway	Discounts vary; some start earlier than 60.
Retail	Kohl's, Goodwill, Michael's, Ross	Senior discount days are common, often requiring ID.
Travel	Amtrak, various cruise lines and hotels	Travel and lodging discounts are frequent, particularly with AARP.
Entertainment	AMC Theatres, Regal Cinemas	Discounted movie tickets are often available on specific days.

Government and State Support Programs

Several programs provide assistance, especially for lower-income individuals aged 60 and above:

1. SNAP Benefits: Provides food purchase assistance for eligible low-income individuals, including those 60 and older.
2. LIHEAP: Helps low-income households with energy costs like heating and cooling, and weatherization.
3. Property Tax Relief: Many areas offer property tax breaks for senior homeowners, easing financial pressure for those on fixed incomes.
4. TCE: Tax Counseling for the Elderly offers free tax help focusing on senior-specific tax issues, provided by trained volunteers.

Forward Planning Beyond 60

Age 60 is a crucial time to review finances and health for the future. While major federal benefits mostly begin later, it’s key for planning:

• Evaluate Social Security: Assess claiming strategies based on work plans and potential retirement age. Utilize the SSA website's resources and consider financial planning advice.
• Consider Private Insurance: Explore options like long-term care insurance.
• Local Resources: The Eldercare Locator helps find local Area Agencies on Aging for information on services like transportation, legal aid, and nutrition.

More on government benefits for older adults can be found on the National Council on Aging website.

Conclusion

Turning 60 primarily opens eligibility for Social Security survivors' benefits for widows or widowers. However, it also brings access to numerous senior discounts and opportunities to explore health resources and government assistance programs. This milestone is valuable for proactive planning to ensure a more secure and comfortable future.

Frequently Asked Questions

Can I collect Social Security retirement benefits when I turn 60?

No, you cannot collect your own Social Security retirement benefits at age 60. The earliest age for claiming your own reduced retirement benefits is 62. However, if you are a widow or widower, you may be eligible to start collecting survivors benefits at 60.

Am I eligible for Medicare at age 60?

You are not eligible for Medicare at age 60. Medicare is a federal health insurance program that generally begins at age 65. Early eligibility is possible for people with certain disabilities or end-stage renal disease.

What kind of discounts can I get at age 60?

Many private businesses offer discounts to customers aged 60 and over. These can include savings on dining, retail purchases, and travel. You can also join AARP for a wider array of exclusive discounts, as full eligibility for perks often begins at 50.

Is there housing assistance available for people who turn 60?

Yes, various housing assistance programs exist. The U.S. Department of Housing and Urban Development (HUD) has programs, such as Section 202, specifically for low-income seniors aged 62 and older. Your local Area Agency on Aging can also provide information on other housing resources.

Where can I get help with my taxes after I turn 60?

The Tax Counseling for the Elderly (TCE) program, managed by the IRS, offers free tax help to people aged 60 and older. This service is provided by trained volunteers from various non-profit organizations.

What food assistance programs are available for seniors at 60?

Low-income individuals aged 60 and older may qualify for the Supplemental Nutrition Assistance Program (SNAP). Additionally, programs like the Commodity Supplemental Food Program and the Senior Farmers Market Nutrition Program may be available, depending on your income and state of residence.

Can I work while collecting survivors' benefits at age 60?

Yes, you can work while collecting survivors' benefits, but your earnings could reduce your benefit amount if you are under your full retirement age. After you reach your full retirement age, your benefits will not be reduced regardless of how much you earn.