Three questions to ask about when to claim Social Security
Maurie Backman puts in right in black and white on how filing age impacts Social Security benefits– “imagine you’re entitled to $1,600 a month at a full retirement age of 67. Filing at 62 will leave you with just $1,120 a month instead, while filing at 70 will give you $1,984.” With such disparities, Backman notes the three questions one must ask and the choice one might make as a result: 1. Am I still working? 2. Do I have a healthy level of savings? 3. Do I have a spouse who’s likely to outlive me? The full article can be accessed here.
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