Revisiting Some Lesser-Known Social Security Rules
For someone beginning to take their first preparatory look at Social Security, the basics are fairly well known. Age 62 is your early eligibility (with reduced monthly benefits), your full retirement age is based on your year of birth (if 1960 or after, it’s 67), you can claim benefits before full retirement age but will face reductions if you exceed earning limits ($22,320 in 2024), your benefit will increase if you delay claiming to age 70, and so on. But there are a few lesser-known rules that you should at least be aware of, and The Motley Fool’s Maurie Backman takes a look at three of them in a post on nasdaq.com. Check it out here.