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Deciding When To Claim Social Security - U.S. News & World Report

The most frequently asked question at the AMAC Foundation’s Social Security Advisory Service is “when should I claim my Social Security?” The response is almost always “It depends” because a number of factors should be considered when making that decision, including and especially your life expectancy and the urgency of your need for the money. One important thing look at to help you decide is your “breakeven age,” which is the age at which you will have collected the same amount of money claiming at two different ages. For example, at what age will you have collected the same amount of money by claiming at your full retirement age instead of claiming at age 62? And although your breakeven age isn’t the only factor to be considered, it is certainly an important one, as discussed in this U.S. News & World Report article by Rachel Hartman.

Also, if you’re unsure about how these basics apply 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…

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