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More on the “Wait to Age 70” filing decision - finance.yahoo.com
There are many viewpoints on the general question of when to claim Social Security benefits, with early claiming — age 62 — remaining a statistically popular choice. The question itself is the most frequently-handled topic at the AMAC Foundation’s Social Security Advisory Service, accounting for 14% of the more than 5,000 requests received last year.
In addition to viewpoints, there are trade-offs to consider, including family health history, available alternative financial resources, and so on. But the 8% return offered by Social Security’s delayed retirement credits is a compelling reason to wait until age 70 to take this step, as explained in a Yahoo!Finance post by Austin Smith. The article quotes American financial advisor and author Suze Orman, suggesting that “… the guaranteed 8% annual benefit increase between full retirement age (67 for most workers) and 70 is one of the safest returns available.” Read the post here…