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The Must See and Understand Social Security Table
Selena Maranjian’s article has this main point– you can make your Social Security benefits 24% greater or 30% smaller. You’ll want to make the move that’s best for you, buy you first must understand what benefits are paid at different ages. Monthly benefits are much less claiming any time before full retirements age, now 67, but you get more of them. Waiting means fewer payments, but higher amounts. The increase between 67 and 70 is 8% annually. Maranjian also covers why one might claim early or late, as life circumstances are a key factor in any decision. Full piece, including the table, is here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.
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.