Best Argument for Claiming Social Security at Age 70
Patience prevails. Maurie Backman explains that the highest Social Security benefit possible comes to those who wait to claim until age 70. It does not increase further after that age. The amount of increased benefit between full retirement age (now 67) and 80 is 8% annually. That’s a near impossibility to get with any regularity anywhere else. And, Social Security is guaranteed for life (with yearly increases for inflation), whereas funds in 401k plans and IRAs can run dry. Full article here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.