Social Security: Knowledge is key! - NAPA
Here at the AMAC Foundation’s Social Security Advisory Service, we routinely answer questions from those about to retire and claim Social Security and, as a non-profit entity, we do so for free. Our advice is based upon both formal education and many person-years working on Social Security matters, counseling those who seek answers about America’s most important retirement program. So we fully understand that ignorance is not bliss, especially when it comes to your future and how Social Security fits into your personal retirement picture.
This article by the National Association of Plan Advisors (NAPA), emphasizes how very important is knowledge about Social Security when deciding which benefits to claim, and when. For example, retirement benefits can be claimed anytime between age 62 and 70, but your age when you claim dictates how much your benefit will be. Other factors, such as whether you work, will also affect your SS benefits if you claim early. Surviving spouse benefits have different rules for when benefits can be claimed, and a couple’s age difference should usually be factored into the planning. Speaking of which, life expectancy for both marital partners is a factor which should always be included in the planning process when deciding when to take Social Security. All of this is discussed in this informative NAPA article by John Iekel. Click here to read more.
Also, if you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public advisory service to help Americans navigate the complexities of this program. All questions are answered quickly, at no charge. Learn more about it here…