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A Thoughtul Look at Claiming Benefits at Age 62
At first blush, filing for Social Security benefits before one’s full retirement age is often viewed as an incorrect retirement strategy. Many financial planners will tell you that’s the wrong thing to do and will further suggest that, if you can, it’s better to wait until age 70 to reach the highest monthly benefit payment. That might be good advice, and it might not be. Like so much of Social Security’s decision-making arena, it’s situational. A piece today by The Motley Fool’s Maurie Backman offers a reflective examination of what to consider if you’re approaching this decision point, and you can read it in full here.
Of course, Ms. Backman’s article represents just one school of thought on this very basic decision. There are many, depending on your finances and various related considerations. In a word, it’s complex. That’s why the AMAC Foundation stands ready to help you understand the implications of this decision, with a staff of trained and certified Social Security Advisors available to assist you. To learn more about this free-to-the-public service and how to use it, visit the Foundation’s website.