Full retirement age
You don’t necessarily have to wait to claim 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 by up to 30 percent than your full retirement age monthly benefit. Most financial experts advise…
The maximum Social Security benefit is out of reach for all but a few workers
In 2024, the highest Social Security retirement benefit for an individual starting benefits is $4,873 per month, according to the Social Security Administration. But how many people achieve the maximum Social Security benefit? In reality, very few Americans will claim…
Don’t claim Social Security early for the wrong reasons
According to a report by the Employee Benefit Research Institute, almost half of the U.S. households will run short of money in retirement. Another report found only 18 percent of Americans retired with enough money to maintain their standard of…
Understanding Retirement Age and Its Implications for Your Social Security Benefit
Deciding when to claim Social Security benefits is an individual issue, and it depends on some key factors. What’s the best age for one claimant may not be the best age for others, so a complete complement of conditions, like…
Re-thinking Your Initial Claiming Decision–Two Available Options
Claiming Social Security benefits before full retirement age remains statistically more popular and, even more significant, very few new claimants wait to age 70 to obtain maximum monthly payouts. If you are in either of these two categories, it’s important…
Working After Filing for Benefits–Some Important Things to Know
Based on the many workforce reports continually surfacing, it’s no surprise that the number of Americans rejoining–or staying in–the labor force after drawing their earned Social Security benefits is increasing. In fact, as noted in a Kiplinger.com post by David…
When Should You Claim Social Security?
Ahh, the age old question, and the one most frequently asked of the AMAC Foundation’s Social Security Advisory Service – “When should I claim my Social Security?” This Bankrate article by James Royal, Ph.D., explores that question in depth, revealing…
Social Security: The power of delaying
In simplistic terms, the earlier you claim Social Security the smaller your benefit will be; the longer you wait to claim the higher your monthly payment. Reduced SS retirement benefits can be claimed as early as age 62, and your…
Social Security: How Much Will You Get?
Social Security is, inarguably, America’s most important retirement program. You work your whole lifetime contributing to the program, in return for a guaranteed income when your working days are over. And your SS retirement benefit lasts for the rest of…
How Claiming Social Security Early Can Hurt You
“Because it’s there” is the reason so many working Americans claim Social Security when they turn 62 years of age. Somewhat understandable when, for a whole lifetime, you’ve been paying money into a program and are anxious to start getting…