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Rethinking the Early Filing Decision
Claiming Social Security benefits at the program’s Early Eligibility Age–62–remains the most popular choice, statistically anyway. Most claimants realize the monthly benefit received via early filing is reduced from the amount available at full retirement age, but financial experts wonder how many fully consider the long-range implications of this decision. Also, many who make the early-filing decision are hampered by Social Security’s Retirement Earnings Test, a provision that temporarily reduces benefits if earnings exceed limits. For these reasons, as well as the spousal benefit-related implications, it’s important to take all the details into account. Check out this post by The Motley Fool’s Dana George for information on this subject.
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