Latest News
Waiting until age 70 to claim Social Security isn’t always a wise choice
Most folks know that claiming before they reach their full retirement age will mean a smaller Social Security benefit, and many also know that waiting beyond full retirement age will mean a larger one. In fact, you can wait until you are 70 years of age to claim and your benefit will be 24% more if your full retirement age is 67 (and 32% more if your full retirement age is 66). Getting a benefit that much higher at age 70 is surely a very enticing prospect but, as pointed out in this Nasdaq article by The Motley Fool’s Maurie Backman, waiting for that bigger benefit payment isn’t always the wisest choice. There a several very valid reasons for claiming Social Security earlier. Click here to read more.
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.