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Aging into Social Security in 2024? Consider all options.
It’s become the mantra a majority of Americans continue to follow– claim Social Security at age 62 and forget about it. But doing so means a permanent lifetime reduction in benefits. Who do so many opt for that? Whether it’s ignorance of higher benefits later or a sense of “grab it while you can” at play, Maurie Backman stresses a need to understand one’s full retirement age (now 67 if born 1960 or later). She also stresses checking one’s most recent earnings statement and working through different scenarios at different ages to see all possible options. Full piece 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.