Claiming benefits at age 70 is usually the way to go
Experts on Social Security generally agree on one thing, delaying benefits as long as possible is smart. It pays to wait, with one’s benefit increasing 8% per year from full retirement age (now 66 to 67) to age 70, the age where one can collect the absolute maximum. But as Maurie Backman explains in this article, one’s personal health is the wild card. Those in poor health would do better to claim early. Backman takes readers through the analysis in the full piece 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.