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Is Working Longer the Best Retirement Strategy?
We’ve heard many say it – work longer and/or claim Social Security later. But is that really the optimal strategy? Perhaps not, says Brian O’Connor of Yahoo Finance in this piece. A number of key points are made in this article. They include: working longer is unrealistic for many; a financial advisor may be the best resource for any one person on deciding when to start benefits; Americans are notoriously terrible savers on their own; and only 5% of people delay Social Security until 70 for the max payout, though 13% nearing retirement say they will do so according to the Social Security Administration. Full piece 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.
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.