Full retirement age
Ask Rusty – Will My Work Earnings Affect My Social Security Benefits?
Dear Rusty: I am presently 67 years of age and am still working full time. I am receiving Medicare coverage, but I have not yet applied for monthly Social Security payments. I have been told that I can take SS…
The perils of filing for Social Security early
Most folks aging into Social Security eligibility are aware that they can file for benefits at age 62. What they may not be fully aware of, though, is the downsides associated with the decision to file before reaching full retirement…
Your Social Security chart can help you decide when to start your benefits
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced. You are entitled to full benefits when you reach your full retirement age. If you delay…
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…
Social Security retirement earnings test
The current economic conditions have many retirees thinking about returning to the workforce. First, you can get Social Security retirement or survivor benefits and work. However, if you’re younger than full retirement age and earn more than a specific dollar…
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 Summary of Bi-Partisan Suggestions for the Social Security Dilemma
As the calendar continues to advance toward commencement of the 118th Congress, we’re seeing an uptick in reports of potential changes that could be considered to address this thorny and complex problem. In a post today on wfmz.com, The Motley…
An Argument in Support of Filing for Social Security at Age 62
“Conventional wisdom,” as espoused by many financial advisors, generally calls for waiting until age 70 to begin drawing one’s monthly benefit. Yes, the monthly payment will be larger, since the claimant has avoided the discount applied to early filers and…
We’re finally through the transition
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. But, the 1983 Amendments phased in a gradual increase in the age for…
The Importance of Knowing (and Considering) Your FRA When Pondering Filing for Social Security
Surprisingly, many folks approaching Social Security eligibility are not clear on what their full retirement age (FRA) actually is. But more importantly, many folks are also not aware of the impact their FRA has on their ultimate level of benefits.…