She has just completed cancer treatment. She$$s rethinking life and taking the time to enjoy the rest of her life. Was born in $1960.$ She is thinking about fully retiring when she reaches $62$ and applying for social security. She has about $$400,000$ in her $401($k$)$ retirement account. Her employee benefits include health insurance, dental and eyeglasses, an employer contribution to her $401($k$).$

$1.$ What is her full retirement age?

$2.$ What are two disadvantages that she will experience if she leaves her job, fully retiring and applying for social security when she reaches age $62?$

$($a$)$

$($b$)$

$3.$ Is there an advantage to delaying her application for social security benefits beyond her full retirement age and applying for her social security later? Explain.

$4.$ Assume she has a home with no mortgage on it$.$ She is considering a reverse mortgage. State one advantage and one disadvantage for her if she obtained a reverse mortgage

$($a$)$ Advantage:

$($b$)$ Disadvantage:

$5.$ If she retires at age $62,$ applies for and receives social security, what impact would working part$-$time have on her social security income?