Latest News
The Best and Worst Ages to Claim Social Security - Motley Fool
Spoiler alert: there is no one best of worst age to claim, because everyone’s personal situation is different. Nevertheless, research has shown that the most popular ages at which benefits are claimed (62 and 63) are usually not the best choice for the individual. Statistically, research showed that only about 6.5% of those who claimed at age 62 or 63 made the right choice. That same research revealed that about 57% of those who claimed would have been better off by waiting until age 70 to apply for their maximum benefit. So although there is an 8 year window during which benefits can be claimed, it’s very important to evaluate your specific personal circumstances before claiming, especially since there is scant opportunity to change your choice. Don’t leave money on the table by claiming Social Security without fully examining your personal circumstances, as advised in this Motley Fool article by Katie Brockman.
Also, if you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public advisory service to help Americans navigate the complexities of this program. Learn more about it here…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.