Latest News

Best Argument to Start Social Security 62

It’s a familiar refrian from most financial experts and gurus– wait to claim Social Security, and the longer the better. But Katie Brockman makes the case for claiming at age 62, the earliest age. One, you don’t have to bet on your longevity; claiming at 62 means smaller monthly payments but cumulatively more of them. Two, you have the ability to change your mind, up to 12 months. Still, Brockman explains the up to 30% cut one will take by choosing this approach. Full article here.

Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or

Comments On This Topic

    • Hi James,
      If you are receiving both SSDI benefits and “SSI” (Supplemental Security Income), those benefits are coordinated (your SSDI will offset your SSI benefit). But if, by “SSI” you are referring to your regular Social Security retirement benefit, here’s what will happen:
      If you are still collecting SSDI when you reach your full retirement age, your benefit at that time will automatically convert to become your regular Social Security retirement benefit. You won’t likely even notice it, because the benefit amount will stay exactly the same. And that’s because your current SSDI benefit is, essentially, your regular SS retirement benefit taken prior to your full retirement age (FRA). If you were born in 1960 or later, your FRA is 67. So you are, in effect, already getting the Social Security amount you’ve earned from a lifetime of working, but you’re getting it prior to your full retirement age on SSDI. Thus, there will be no change in your benefit amount when you attain FRA and your payments are automatically switched to be your regular SS retirement benefit.
      As for your wife, you collecting SSDI (disability) has no effect on your wife’s own Social Security benefit. If she’s entitled to a spousal benefit from you, it will be based on your SSDI amount if you’re collecting that when your wife claims, or on your SS retirement benefit if you have reached your FRA when your wife claims. But the amount she receives as your spouse will be the same in either case. You wife, of course cannot claim benefits until she is at least 62, and if she claims at any age before her own FRA (67), her benefits – both her own and her spousal benefit if she is entitled to one – will be reduced. The only way your wife can avoid benefit reduction is by waiting until her FRA (67) to claim Social Security.
      I hope this answers your question, but if you need more information please contact us directly at [email protected], or call us at 1.888.750.2622.
      Russell Gloor
      National Social Security Advisor
      The AMAC Foundation

What's Your Opinion?

We welcome your comments. Join the discussion and let your voice be heard. All fields are required

Website by Geiger Computers