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When is Claiming Social Security at 70 a Bad Idea?
Waiting to start Social Security at age 70 is the definitive choice for those wanting to maximize their monthly benefit for life from the program. Experts near universally say people should wait, as benefits grow 8% yearly between 67 and 70. But should all wait? Maurie Backman says no. If any of these three apply, she urges one to reconsider the strategy of waiting: 1. Your health is poor; 2. You don’t have a great family history of longevity; 3. You’re utterly miserable at your job. 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.
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.