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Turning 62 in 2024? Know the Rules on Social Security.

To avoid unpleasantness later, Kailey Hagen strongly advises those turning age 62 in 2024 to understand the most basic fact: if you claim Social Security at age 62, you get a permanently reduced benefit for life. In fact, it’s a 30% reduction over claiming at full retirement age (now 67). Then there’s the earning test, which reduces Social Security benefits for those who work and exceed fairly low limits in wages. Hagen also explains that most cannot actually claim in the month they turn 62 anyway, and must wait at least one month more. Full article 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.

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