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5 Signs You’re Ready for Your First Social Security Check
Robin Hartill explains there’s no magic bullet for deciding when to start one’s Social Security benefits. Claim too early and you could be in for a cash-strapped retirement. Claim too late and you risk leaving money on the table that you paid into the system. Hartill notes these five signs suggest it’s time for you claim benefits: 1. Your benefits and investments could replace 80% of your income; 2. You own solid dividend stocks; 3. You’ve reached full retirement age (now 66-67 depending on birth year) or you’re no longer working; 4. You’re eligible for Medicare; 5. Taking benefits would help you avoid debt. Full piece here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.