Delayed Retirement Credits
Why you may want to claim your Social Security benefits early
You can start receiving Social Security benefits as early as age 62 or any time after that. The longer you wait, the higher your monthly benefit will be, although it stops increasing at age 70. Your monthly benefits will be…
What you need to know about retirement ages in the US
Your age matters when it comes to Social Security benefits. 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. If you…
One more reason to wait until 70 to take your benefits
You can begin your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to…
Is it possible to wait too long to start your benefits?
If you delay taking your benefits from your full retirement age up to 70, your benefit amount will increase. Your monthly Social Security benefits will increase by 2/3 of 1 percent each month you wait to start your Social Security…
The real price tag to claiming Social Security too early
New research from economists at Boston University and the Federal Reserve Bank of Atlanta found many retirees are making a strategic mistake that can cost them tens of thousands of dollars in lifetime benefits by claiming their Social Security benefits…
A Realistic Look at the “Maximizing Social Security” Incentive
In a post on tucson.com, nationally syndicated former SSA analyst Tom Margenau takes a look at the popular notion that there exists a secret way of getting the highest possible payout from their earned Social Security benefit. As he points out, the “secret”…
COVID-19 and Your Decision to Claim Social Security Benefits
Those who have been weighing their options for Social Security benefits know that filing early (i.e. before their full retirement age – FRA) will result in a reduction from their FRA benefit. Likewise, they know that deferring their filing beyond…
Can Your the Value of Your Social Security Benefits Decrease?
Well, yes, and there are several ways that this could happen. As outlined in an article by Selena Maranjian posted on missoulian.com, there are two scenarios under which benefits could be impacted negatively, with the first being the result of the “earnings test”…
Your Social Security Claiming Age and it’s Impact on Your Lifetime Benefits
By now, most likely everyone aging into Social Security eligibility has heard the advice to avoid the temptation to grab their benefits as early as possible. But do you know why? The Motley Fool’s Sean Williams, in a post on www.nasdaq.com, explains…
Ask Rusty – Maximizing Spousal Benefits
Dear Rusty: My husband turns 68 next year, and I will be turning 66. He plans on continuing to work and retiring at age 70 to maximize his monthly Social Security benefits. I am retiring next year due to a…