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Score a Higher Social Security Benefit in 30 seconds
Maurie Backman covers the importance of Social Security to most retirees. A key objective for all nearing retirement should be to score the largest monthly benefit for life that is possible. That won’t happen by taking benefits at 62 or any time before full retirement age. Backman says all should look up their full retirement age, which is now 67 for those born in 1960 or later. But delaying further until the maximum age of 70 yields higher benefits still, at a rate of 8% more each year deferred. 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.