The decision about when to claim Social Security retirement benefits - The Press

As you approach retirement age, you will need to decide when to begin your Social Security benefits. Individuals planning for their retirement should be aware your Social Security benefits will depend on your retirement age.  If you start receiving benefits before your full retirement age, you will receive a reduced benefit. You can choose to retire as early as age 62, but doing so may result in a reduction of as much as 30 percent. Starting to receive benefits after your normal retirement age may result in increased benefits. With delayed retirement credits, a person can receive their largest benefit by retiring at age 70.  Yes, a difficult decision to make, but the Consumer Financial Protection Bureau (CFPB) offers some tips to people wondering when they should begin collecting their Social Security benefits. Click here…

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