claiming benefits
The Decision to Defer Claiming is Becoming More Popular
The Social Security Administration reports that the share of claimants starting benefits at age 70 is rising, up from about 1% 15 years ago to about 10% this year (for men) and slightly higher for women.
Planning a 2027 retirement? Check out thee key things to know.
Anyone contemplating claiming Social Security retirement benefits next year needs to be aware of the basic rules, and a post by The Motley Fool’s Kailey Hagen, CFP can help you out with three of the key items.
Another perspective on the “when to claim” question.
The decision to claim Social Security benefits at the earliest possible age–62–is tempting, and many opt to do that even with the understanding that higher monthly benefits would be available by filing later. It’s a tough choice, especially when the…
Understanding the “Break-Even Age” and How it Applies to Your Claiming Decision
The “when to file” question is one of the more frequent ones we receive here at the AMAC Foundation Social Security Advisory Service. And although we know it’s frustrating, our answer universally is “it depends.” Most financial planners will tell…
Implications of Claiming at Age 70: Consider Survivor Benefits in the Equation
Conventional retirement finance planning suggests deferral of benefits until age 70 to capitalize on delayed retirement credits. Yes, you do get a higher monthly benefit, and depending on the number of months you receive that payment, you can maximize your…
Ask Rusty – Should I collect SS now or wait two years until age 70?
Dear Rusty: I am 67 and 9 months old, collecting a modest SS survivor benefit with plans to collect my own much larger benefit at age 70. I was confident this plan was a good one; but recent turbulent events make…
Selecting the “Best” Claiming Age for Social Security Benefits
Sure, you can claim Social Security retirement benefits at age 62. In fact, nearly a quarter of all who become eligible at that age do just that. They may or may not understand the long-term consequences of that move, but…
Is delaying retirement becoming the norm?
According to a survey by F&G Annuities & Life, Inc., the trend toward early retirement appears to be in a period of reversal. In a post on prnewswire.com, F&G’s editorial staff reports that “More than two-thirds (70%) of pre-retirees over…
Social Security’s “Effective” Date Conundrum Explained
For those of you just beginning to look seriously at claiming Social Security benefits, you’ll quickly realize that there are not only many rules associated with this step, but certain idiosyncrasies as well. One of the more esoteric of these…
The Importance of Verifying the Data SSA Has in Your Record
The Social Security Administration (SSA) maintains records of our work history, along with the earnings history and a record of the taxes you’ve paid for both retirement benefits and Medicare coverage. Using this information, SSA develops benefit data for you…