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When Should You Claim Social Security? - CNET

That is, of course, the proverbial $64,000 question and one which most Advisors will answer with “it depends.” It depends on your current financial need, your health and life expectancy, your marital status, and whether you are still working full time, among other things. In other words, when to claim Social Security should consider your entire personal circumstances, and there is no one-size-fits-all answer.

You have an 8 year window in which to claim Social Security, starting at age 62 and ending at age 70, and the earlier you claim, the smaller your monthly payment will be. And although you can get your maximum Social Security benefit by waiting until age 70 to claim, waiting that long simply isn’t for everyone. This CNET article by Katie Teague discusses what to consider when making your decision, but your best advice may be to speak with a Social Security expert, such as the AMAC Foundation’s Social Security Advisory Service (see below). Click here to read the CNET article by Katie Teague.

If you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public service to help Americans navigate the complexities of this program. Learn more about it here…

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