If you wait until age 70 to collect your Social Security benefits, your benefits will be 76 percent higher than if you had begun to take benefits at age 62. This could mean that it might be smarter to spend down your retirement savings such as a 401(k) in order to delay taking your benefits.
Social Security
Social Security benefits for minor children
Last week on the AgingOptions radio program, Rajiv Nagaich, elder law attorney and several callers to the show discussed Social Security benefits for minor children if the parent (or in some cases the grandparent) of a child is collecting Social Security. Here’s the Social Security posting about that benefit. Here is the original story that I posted about families … Read more
Families and Social Security benefits
Do you have a late life family? Are you a parent who was dependent on a child’s support but the child has since died? You may be eligible for Social Security benefits.
Is your Social Security strategy to not have a Social Security strategy?
Have you seen the study where children are allowed to eat a marshmallow but if they can delay eating the marshmallow for a specific amount of time they can have a second marshmallow? The majority choose to eat the marshmallow they already have in their hot little hands. Well don’t clap yourself on the back because as an adult you wouldn’t make the same mistake. Take for instance Social Security benefits.
Direct deposit may jeopardize some beneficiaries Social Security benefits
Beginning this month, all Social Security beneficiaries with birthdays after May 1, 1921 are required to accept their Social Security benefits electronically with few exceptions.
Making the right Social Security decisions
With all the free information on the internet about when and how to file for Social Security, why ever would you pay for advice?
Avoiding Social Security’s rat holes
Surely if there are best times to claim Social Security, there must also be worst times and that’s exactly what William Meyer, the author of “Social Security Strategies” claims. He calls those periods of time that you absolutely should avoid applying for benefits rat holes. Surprisingly, Meyer considers 66 years of age to be the … Read more
Social Security expands program to fast-track special disability claims
The Social Security Administration is expanding a program to fast-track disability claims for individuals with serious illnesses such as Lou Gehrig’s disease or early-onset Alzheimer’s. These claims used to take months or even years to process. The program will expand Dec. 6, to include a total of 200 diseases and conditions that with proper documentation … Read more
Spousal benefits before full retirement age
Q: I am wondering whether I can access spousal benefits from my husbands record who is full retirement age and I am only 62? I do have 40 quarters of my own and would like to postpone getting my own benefits. Example: my husband gets $2000 in benefits. I know that age 62 I will receive less than … Read more