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Social Security Puzzle: Married Couples Can Claim 8,000 Ways
(By – Ilana Polyak, CNBC.com)
If you thought saving for retirement was complicated, you’re in for a whole new world of confusion when it’s time to claim Social Security, most people’s biggest retirement asset. For the average married couple, Social Security amounts to $1 million or more, said Bill Meyer, a founder and managing principal of Social Security Solutions, a software company that helps its consumers analyze the impact of different claiming decisions. And according to the Social Security Administration, the benefit represents close to 40 percent of the average retiree’s income. “The difference between a good strategy and a bad strategy can be hundreds of thousands of dollars,” Meyer said. “People should not take this decision lightly.” Read more…