The Most Appropriate Claiming Age is Not Always Clear-Cut - msn.com
The nomenclature set to go into effect soon at the Social Security Administration changes “full retirement age” to “standard benefit age.” Likewise, the new labels change “early eligibility age” to “minimum benefit age.” It’s an attempt to make certain that any considering filing before their “standard benefit age” understands that they’ll be getting less in their monthly payment…permanently.
But will the new terminology clarify that claiming at the “standard benefit age” leaves money on the table, at least from a monthly benefit viewpoint? Maybe not, as explained in a msn.com post by Christy Bieber, which you can access in full here. Ms. Bieber discusses the math associated with the minimum, standard, and maximum benefit ages, and illustrates why the standard choice may not be the best choice in some situations.
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