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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…
Still Working? Beware Claiming Social Security Early
Maurie Backman notes 62 is the earliest age to claim Social Security, and indeed more people claim at or near that age than at any other time, even though the highest benefits are paid to those who wait until age…
Retiring Abroad and Social Security
Marc Rapport answers the question asked by more Americans each year: will retiring abroad impact my Social Security payments? The answer is “generally, no.” Cuba, North Korea, and a number of the Asian “STAN” countries are exceptions. The author notes…
Claim at Age 70 for this reason
Maurie Backman explains one can claim Social Security at any age between 62 and 70, though a majority opt for the earliest age. But patience can pay dearly, as the highest benefit available is for those that claim at 70.…
Claiming Early? Beware the Retirement Earnings Test
Age 62 is the most common Social Security claiming age, even though it brings with it a permanently reduced benefit for life. Still, many claimants choose to also continue working. But wages are subject to the retirement earnings test, a…
Why Most Women Will Get a Smaller COLA Boost than Men
To begin, neither Social Security administrators nor the law itself is biased against women. But women will get a smaller cost of living adjustment (COLA) than men in January 2024. Why? It’s actually simple, according to Kailey Hagen. Women earn…
What Does Social Security Look Like for a Typical 64-year Old Claimant?
Sean Williams explains the importance of Social Security as an anti-poverty program and how benefits are calculated. He selects age 64 for his example. Claiming at that exact age means receiving a benefit early enough to enjoy while also avoiding…
Beware these 3 Social Security Surprises
Maurie Backman explains it is vital to know some basics about Social Security. One, Social Security only replaces a limited amount of income. Indeed, most overestimate what they will get and/or how far benefits will go. It replaces about 40%…
Is there a best age to start Social Security?
There’s no one size fits all in the literature on when to start Social Security. Claiming at age 70 yields the highest permanent monthly check, but Selena Maranjian notes there are plenty of good reasons to begin before that maximum…
The Social Security Tax Torpedo – What it is & how to avoid it
The spike in taxes retirees often experience after receiving Social Security income is the infamous tax torpedo. As Ashley Kilroy explains, 50-85% of your Social Security check may be taxable, depending on income level and life circumstances. Further, your Social Security…