Claiming Social Security based on breakeven calculations
Most financial experts will tell you not to start your Social Security retirement benefits at age 62; instead let your benefits grow. Many individuals have a difficult time taking that advice. They argue that putting off those earned benefits will result in a longer time to reach breakeven, when you will have received the same amount as if you claimed early. Experts warn that calculating breakeven is tricky and to do it right you must be realistic about how much you could earn by investing your benefits and how much your benefits will increase each year. The attached article warns of some of the blind spots that can create misleading results. Read article here…
Also, if you’re unsure about how the “break-even” concept applies to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public service to help Americans navigate the complexities of this program. Learn more about it here…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.