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Want to get paid more in Soc Sec? Keep working
“If older workers stayed on the job longer, they could do a lot for the labor shortage — and improve their financial prospects in the bargain.” That’s the message from Mitchell Schnurman, business columnist at The Dallas Morning News. This piece takes readers through the thinking of many who claim benefits at age 62, the earliest age possible, and provides sound information and advice from the experts as to why that is often not the most financially sound decision. Schnurman cites a study from United Income, a financial advisory firm, that a household stands to collect an average of $111,000 less in retirement income over time, a huge cost to claiming early. Read 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.