Social Security Report

Is there an ideal age to claim Social Security? - Motley Fool

Is there an ideal age to claim Social Security? Well, recent research on this topic suggests that age 70 is the best age in most circumstances but, curiously, that is not the age at which most beneficiaries actually claimed. A majority of beneficiaries claimed Social Security before the optimal age for their circumstances, in so doing leaving a lot of money on the table. Indeed, the average household which claims before their optimal time receives over $100,000 less in lifetime benefits than they might have otherwise gotten – a lot of money by any measure.

Note that while age 70 may be the best age to claim in most circumstances, everyone’s situation is different. Financial need, marital status, health and life expectancy are critical to selecting the right age at which to claim Social Security benefits, as explained in this Motley Fool article by Katie Brockman. Click here to read more.

Also, if you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public advisory service to help Americans navigate the complexities of this program. All questions are answered quickly, at no charge. Learn more about it here…

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