Social Security and Age 62: Three Things to Know
It is literally one of the most important decisions one can make in retirement, and perhaps even in one’s lifetime– when to take Social Security benefits. Imagine realizing years after electing to receive a monthly Social Security payment for life at age 62 that it is permanently reduced by as much as 30% because of such a decision. Maurie Backman’s article here in The Motley Fool takes one through the decision and even talks about how to change one’s mind, a so called “do-over”. Finally, she notes waiting to collect a higher benefit later is not right for all. Age 62 can be right, but the more information you have, the more informed the decision. Read full piece here.
The AMAC Foundation offers a free-to-the-public advisory service to folks ageing into or already in Social Security. The service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits. Our NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about the service at the Foundation’s website.
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.