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Social Security Fundamentals for Those Aging In
As we’ve said many times in posts on this site, Social Security is quite complex, especially for those just beginning to take a look at how and when they should claim their earned benefits. For example, there’s the issue of one’s full retirement age and how filing before or after that age can impact monthly benefits. Then, there’s the issue of ensuring your eligibility for benefits in the first place, the actual methodology for calculating benefits, and (of course) nuances like how benefits are taxed for individuals above certain limits. All in all, it can be pretty daunting for someone taking a “first look” at the program.
Brian Skrobonja, CHFC®, in a post appearing on kiplinger.com, can help you with some of the questions you may have as you begin your journey. Check his article out here. Beyond that information, if you have any other questions or if you need any assistance deciphering the maze of options available to you, know that the AMAC Foundation offers a free-to-the-public advisory service that can help you. Learn more about this service and how to access it here.