Delaying Social Security Can Sometimes Cost You
it’s a common refrain from financial experts– delay Social Security, until age 70 if possible. The strategy makes sense for most, but not all, as Christy Bieber covers in this piece. Spousal benefits do not increase beyond full retirement age. Those that delay beyond age 67 miss out on income; they do not get larger checks later in exchange for delaying. Then there’s the issue of passing away before you “break even.” This one is a crapshoot, but assessing one’s health is most important. In general, the unhealthy should not delay benefits. Full article 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.