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More on the “Wait to Age 70” filing decision - finance.yahoo.com
There are many viewpoints on the general question of when to claim Social Security benefits, with early claiming — age 62 — remaining a statistically popular choice. The question itself is the most frequently-handled topic at the AMAC Foundation’s Social Security Advisory Service, accounting for 14% of the more than 5,000 requests received last year.
In addition to viewpoints, there are trade-offs to consider, including family health history, available alternative financial resources, and so on. But the 8% return offered by Social Security’s delayed retirement credits is a compelling reason to wait until age 70 to take this step, as explained in a Yahoo!Finance post by Austin Smith. The article quotes American financial advisor and author Suze Orman, suggesting that “… the guaranteed 8% annual benefit increase between full retirement age (67 for most workers) and 70 is one of the safest returns available.” Read the post here…
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.