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Claiming at 62, is it a matter of longevity and risk - Yahoo!Finance
You can claim Social Security benefits starting at age 62, but your benefits will be reduced if you claim before your full retirement age. Delaying your claim past your full retirement age can increase your monthly benefits by eight percent per year until you reach 70. Most financial experts, but not all, recommend that people wait until age 70 to claim their Social Security benefits. Given that many Americans lack retirement savings, delaying it will result in a higher monthly benefit. But why would a financial expert not recommend this strategy? Maurie Backman, writing for Yahoo! Finance, explains why Dave Ramsey thinks claiming Social Security at 70 is a bad move. Read Ms. Backman’s article here…
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