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Debating when to take Social Security
In this blog by Vanguard’s Senior Wealth Planner Jackie Youseff, the author jumps right into the ongoing debate about when is the best time to claim your Social Security benefit. But in stating her informed opinion, she lays out a compelling case to, health permitting, wait until you are 70 years old to apply for your maximum Social Security benefit and, along the way, realize the advantages of smaller “RMDs” (Required Minimum Distributions), lower income taxes, and more total Social Security benefits collected over your lifetime. Of course, no one knows whether they made the right timing decision until it’s too late, but making the decision on when to claim armed with all the facts available to you now will most often be the right choice. Click here to read more.
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