When you apply for benefits has a big impact on what you get

For many approaching retirement, one of their biggest decisions will be when to start collecting their Social Security benefits, and when those benefits start will determine how much your monthly payment will be.  Social Security’s “full retirement age” is the age at which you are entitled to 100% of your benefit based upon your working career.  But if your start earlier your payment will be less, perhaps as much as 30% less; and if you start later your benefit amount will be more.  This article by Michael Keenan at gobankingrates.com explains how to see what your Social Security full retirement age is, and what the impact of applying for benefits either earlier or later will be.  Click here to read more.

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