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Key Piece of Social Security Information for All
Don’t file for Social Security benefits at the wrong time. So says Maurie Backman in this piece. Contrary to popular belief and what a majority of Americans do, starting benefits at age 62 does NOT entitle one to full retirement benefits. It’s a permanent reduced payment by claiming at 62. Backman explains when full retirement is (67 for those born 1960 or later) and how waiting augments one’s payment for life. Every month past 62 means a higher benefit. Max benefits are reached at 70. Full explanation 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-accredited Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.