Delayed Retirement Credits
Claiming your Social Security benefits sooner than later
Most financial experts advise not to file for your Social Security benefits until you have maximized your benefit, usually at age 70. You max out your benefit by earning delayed retirement credits that will boost your monthly benefit by eight…
The pros and cons of starting at 62
You can begin your Social Security retirement benefits early at 62, the most popular age. If you decide to start receiving benefits early, they are reduced, but if you wait until you reach your full retirement age, you are entitled…
What you should know before you collect spousal benefits
Coordinating your benefits with your spouse’s benefits can help you to get the most out of your Social Security payments. Your first step in maximizing your Social Security benefits should be to know the rules. There are three rules you…
There’s more to consider when deciding to begin your Social Security benefits
Social Security is a primary income source for most people aged 65 and older. Without Social Security benefits, 37.7 percent of older adults would have incomes below the poverty line. Social Security is the cornerstone of many retirees’ income, so…
Things you should be doing right now to maximize your future Social Security benefit
You are entitled to full Social Security benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to the age of 70, your benefit amount will increase by eight percent…
The average retired-worker benefit at age 62
You can start receiving your Social Security retirement benefits as early as age 62; however, if you start receiving benefits early, your benefits are reduced. There are advantages and disadvantages to taking your benefits before your full retirement age; however,…
Ask Rusty – When Should I Retire and Claim My Social Security Benefits?
Dear Rusty: I am 64 years old and having difficulty working due to my arthritis, but I can continue part time as a podiatrist. I do not know the best way to determine when to retire. What is the formula…
Why some Americans claim benefits early
You can start receiving your Social Security retirement benefits as early as age 62; however, you are entitled to full benefits when you reach your full retirement age. And, if you delay taking your benefits from your full retirement age…
Working Longer to Increase Benefits–Some Points to Consider in the Argument
As the rhetoric on Social Security reform continues to percolate, one of the frequent topics in the debate is extending the amount of time in the workplace. Financial advisors typically cite the delayed retirement credit (DRC) as an avenue to…
These rules dictate how much you will receive in retirement
The Social Security Administration reports that 31 percent of the workforce in private industry have no access to pension coverage, and only 16 percent of those without access said they have any retirement savings. A recent Nationwide Retirement Institute survey…