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What to watch for if claiming Social Security after full retirement age
“It pays to wait” is the oft repeated line from experts on Social Security, yet just 4% of folks delay collecting until the maximum age of 70. As Maurie Backman notes, you can start retirement benefits at any age beginning at 62, but the incentives to wait until full retirement age (66-67 depending on birth year) or age 70 are significant. Here are three side benefits of delaying: 1. You’ll be tempted to work longer; 2. You’ll have more financial freedom during retirement; 3. You’ll boost your lifetime income if your health is terrific. Full article is 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.
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.