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Another perspective on the “when to claim” question. - Cleveland.com
The decision to claim Social Security benefits at the earliest possible age–62–is tempting, and many opt to do that even with the understanding that higher monthly benefits would be available by filing later. It’s a tough choice, especially when the economy is tight. At the AMAC Social Security Advisory Service, we advise folks to consider all aspects of their situation (e.g., personal health, other available resources, spousal and dependent impacts, etc.) when deciding when to claim. It’s still a good idea, though, to be aware of other thoughts on the question, as in the case of a recent post by Cleveland.com contributor Leada Gore. In her analysis, Ms. Gore cites sources that say “92% of people would be better off waiting until at least 65 to claim Social Security.” Again, the final decision is a matter of individual circumstances.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.