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Should you wait to claim your benefits now?
The COVID-19 pandemic and the economic havoc it has caused make it both reasonable and necessary to rethink long-held financial plans. If you are between the ages of 62 and 70 and have not claimed your Social Security benefit, you may be tempted to apply, but you may want to wait. Every month you wait to claim up to the age of 70 earns you a higher benefit. The attached rate.com article gives a six-point checklist to help preserve your maximum retirement income and avoid the urge to claim a lower Social Security benefit. Read the article here…
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.