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Know the Social Security Rules if Turning 62 This Year

Maurie Backman notes how turning 62 is a retirement milestone. It’s the most popular age for those starting Social Security. But if you’re trying to maximize that portion of your retirement income, claiming at 62 is just plain wrong. That’s true because you shrink your benefits for life over waiting until full retirement age (now 67). You could also have some benefits withheld if you start them and still work. Finally, starting benefits at age 62 potentially robs one of being able to have the highest 35 years of earnings count toward one’s benefit calculation. 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.

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