Latest News
Regret taking Social Security early? Here’s a mulligan that may work for you
It’s pretty well known that Baby Boomers are retiring in record numbers, and many have chosen to start their retirement benefits early. But that choice to apply early means that they’ll see a significant reduction in their benefit amount, compared to what they could have received by waiting a little longer. For those who might regret starting benefits too soon, Social Security has a “do-over” option, a “mulligan” in golfing parlance, which allows a person to withdraw their application within one year of applying. Of course there are some consequences of exercising the option, but the reward could be a bigger benefit check for the rest of your life, as this article by Sean Williams of The Motley Fool explains. Click here to read more.
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.