At What Age Are You Considered a Senior? 65? Maybe Not!
Believe it or not, 65 is not the official senior citizen age. In fact, the term senior citizen is pretty subjective. Different organizations use varying standards to determine when individuals are officially considered seniors.
According to AARP
The American Association of Retired Persons (AARP) is one of the largest lobbying organizations in the country. Members of AARP have access to special products, services, and discounts. Even though you can join the AARP at any age, you start accessing discounts, products, and services once you reach the age of 50.
General Senior Discounts
AARP isn’t the only organization that offers senior discounts. You can find them everywhere in your community! The catch is that not every organization defines “senior” the same way. For example, there are some restaurants that will start senior discounts at age 50, while movie theaters may start them at age 65.
Beyond senior discounts, having the ability to withdraw your retirement funds without facing tax penalties is probably the best advantage of becoming a senior. However, when it comes to retirement plans like 401ks, 403bs, and IRAs, the official senior citizen age is a bit different when compared to AARP…and it can be confusing.
Most of the time, you can enjoy penalty-free withdrawals once you turn 70 ½. However, if you are not working and have a 401(k) or IRA, you may be able to withdraw starting at age 59 ½. It largely depends on what type of plan you have, your employment status, and who your plan holder is.
Social Security can help you supplement your retirement plan. You are eligible to start receiving retirement benefits from Social Security at the age of 62; however, your benefit amount will increase if you wait until you are 70-years-old. Be sure to check your eligibility on the Social Security Administration’s website, as the official senior citizen age has been known to change, and there can be some confusing legislation surrounding Social Security benefits.
You are eligible to sign up for premium-free Medicare at the age of 65, with or without Social Security benefits.
Lastly, most senior housing communities consider 55+ as the standard senior citizen age. Once you turn 55, you may qualify to move into a condo, apartment building, townhouse, or home in a senior living community. These communities can be very beneficial to seniors, as they usually provide daily activities and better accessibility to transportation, grocery stores, and doctor’s offices. Additionally, residents living in these communities don’t have to worry about interior or exterior maintenance and repairs.
Perks of Being a Senior
Many people fear reaching “senior age,” but it should actually be a moment of celebration! There are many advantages to becoming a senior citizen. First, you may be eligible for more services, and many of those services could be free. Second, you’ll qualify for more discounts and tax deductions. You’ll also be able to withdraw money from your retirement accounts without being penalized. And, most of all, you have the opportunity to move into an independent living community where you can meet more friends, learn new skills, and enjoy living in peace.
Enjoy Your Golden Years at Shelby Park Manor
Shelby Park Manor is an independent living community designed for individuals ages 55 and up. Since our founding, our goal has remained the same: create a serene, comfortable, and welcoming environment for our community. As a resident, you’ll enjoy a wide array of amenities, including convenient transportation to nearby parks and attractions, spacious apartments, 24/7 security, and plenty of social events.
Make our community your new home—contact us today to schedule a tour.