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Anaylzing the Claiming Age Trade-offs
Although age 62 remains the most popular age for claiming Social Security benefits, and although many folks realize that deferring that decision will yield a higher monthly benefit, deciding to jump in or wait can be agonizing. A thoughtful decision should weigh several relevant factors, including family health history, the availability of alternate financial resources, and the impact on dependents. To use a popular phrase, you need to “run the numbers” before deciding.
Easier said than done? Yes, perhaps, but guidance is available through numerous media accounts, including a recent post by The Motley Fool’s Adam Levy on Yahoo!Finance (click here to read). Also, if you find you need additional discussion on the tradeoffs and how they impact your personal situation, know that the AMAC Foundation offers a free-to-the-public Social Security Advisory Service that can help. To learn more about this service and how to activate it, click here.