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Is there a best age to start Social Security?
There’s no one size fits all in the literature on when to start Social Security. Claiming at age 70 yields the highest permanent monthly check, but Selena Maranjian notes there are plenty of good reasons to begin before that maximum age date. One’s health may be poor or one may need the income to survive at 62 or shortly thereafter. The market may be way down too, and selling might be detrimental. Those are valid reasons to start benefits early, though that comes with a “penalty.” Read the full piece including why starting late can also make sense.
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.