Full retirement age
About Claiming Social Security Early
One of the most frequently asked questions at our AMAC Foundation Social Security Advisory Service is “when is the best time to claim Social Security?” Our answer, of course, is “It depends.” It depends on your financial need, your health…
Ask Rusty – Will My Social Security Increase if I Keep Working After Applying?
Dear Rusty: I am going to be 67 in a few weeks & I plan on working for another year or two. According to Social Security, they count the best 35 years to come up with your benefit. I currently…
How to calculate your full retirement age
You can start your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits only when you reach your full retirement age. So, how do you find out what your full retirement age is?…
Ask Rusty – When is the best time for me to claim Social Security?
Dear Rusty: I will be 66 ½ in June and would like to discuss when would be the best time for me to start taking my social security benefits. I am still employed full time and don’t want to be…
Planning for beginning your Social Security benefits
When you are ready to start your Social Security benefits you have to plan on a month without a payment. Social Security pays one month behind. For example, if you start your benefits in June, you won’t receive your first…
Ask Rusty – Can My Wife and I get Spouse Benefits from each other?
Dear Rusty: My wife and I are currently collecting Social Security. We both started receiving SS at 62 years old. That said, we get by on a tight budget. A retired friend told us about an option which allows a…
About Seniors and Social Security Disability
In this very informative article, a former Social Security employee discusses Social Security Disability Insurance (SSDI) benefits, and draws a comparison between another disability program known as SSI (Supplemental Security Insurance). The former is a program available to all working…
About not paying income tax on Social Security Benefits
President Trump has suggested that seniors should not have to pay income tax on their Social Security benefits, and (obviously) most seniors would agree. Some studies say that eliminating income tax on Social Security benefits would provide a welcome $3,000…
A Primer on Collecting Social Security Benefits
You can start collecting Social Security benefits at 62, but it will be 30% lower than if you waited until your Full Retirement Age. For anyone born in 1960 or later your Full Retirement Age is 67. On the other…
The Importance of your Full Retirement Age to your Social Security retirement benefit
Each year, the Social Security Administration changes some rules affecting your benefits, so knowing the changes goes a long way toward choosing when to claim Social Security. Your “full retirement age” – which is when you get 100% of the…