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Push Yourself to Delay Social Security as Long as Possible
It might seem mind-numbing when reading advice on when to claim Social Security benefits. This one fact remains true, however– Social Security is designed to pay you the same total lifetime benefit regardless of when you initially file. Of course that assumes one lives an average lifespan. Still Maurie Backman says delay to get a guaranteed return in the form of a higher benefit. The delay rate is 8% a year from full retirement age (soon 67 for all) to age 70, and Social Security should only be one part of retirement income. Read 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.