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Thinking Through the Claiming Age Decision
Reaching Social Security’s early eligibility age — 62 — is a milestone for just about everybody, and it marks the first decision point on the road to claiming those retirement benefits. Claiming at that age can produce a lucrative and immediate cash infusion, or it can be a solution to financial pressures or an offramp from a stressful work situation. Either way, it’s a decision that about a quarter of those reaching age 62 make. Turning the coin completely over, deferring benefits to age 70–the point at which the monthly payout is maximized–is a choice less than 10% make. “And, this is unfortunate, given that the age of 70 is the best age for the majority of retirees to claim their benefits,” says msn.com contributor Christy Bieber in a post on their website. Check out Ms. Bieber’s post here…
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