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When Should you Claim Social Security? - Yahoo! Finance

There’s no single answer to that question, but there is one very important factor which is crucial for you to know when deciding, and that is your full retirement age (FRA). You FRA varies depending on the year you were born, but when you claim relative to your FRA also is a primary factor which determines how much your benefit will be. Claim at your FRA and you’ll get 100% of the benefit you’ve earned from a lifetime of working; claim before your FRA and your benefit will be permanently cut; claim after your FRA (up to age 70) and your benefit will be more (up to 32% more depending on your FRA). This Yahoo! Finance article by Motley Fool’s Maurie Backman provides the “most important Social Security chart you’ll ever see” – essentially a chart which defines your full retirement age. Click here to read more.

Also, 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 advisory service to help Americans navigate the complexities of this program. All questions are answered quickly, at no charge. Learn more about it here…

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