What’s the optimum age to start taking
your Social Security Retirement Benefits?
Every year you delay taking your SS, it is equivalent to an 8% increase in benefits, upon which you will later receive a cost-of-living increase. If you continue to work, that would increase your benefits too. See bibliography below.
Don’t forget about Medicare @ 65
If you plan to delay receiving benefits because you’re working, you’ll still need to sign up for Medicare three months before reaching age 65. If you don’t enroll in Medicare medical insurance or prescription drug coverage when you’re first eligible, it can be delayed and you may have to pay a late enrollment penalty for as long as you have coverage. You can find more detailed information about Medicare here.
- Estimate Your Life Expectancy
- Other Benefit Calculators
- When to Start Receiving Retirement Benefits
- Benefits For Your Spouse
- Other Things To Consider
- Retirement Toolkit
- my Social Security
- social security solutions.com fees may apply
- fairly geeky, there are good spreadsheets at www.analyze now/ but they are not easy
- Forbes 5 calculators
Smart Asset.com Social Security Calculator
IRS Publication 915: Social Security and Equivalent Railroad Retirement Benefits.
Terry Savage.com Social Security – Still have mortgage?
Dave Ramsey – Take Social Security early?
Suze Orman – Optimum Age to retire
the authoritative source on Social Security claiming strategies, this book is now in its third edition. With updates in rules, new disability strategies, and strategies for those who are facing a terminal illness, the authors have again delivered invaluable tools for crafting Social Security retirement benefit claiming strategies. Social Security benefits are the largest retirement asset for the majority of Americans. Yet most decide when to begin benefits without advice. A smart strategy for claiming benefits can make a material difference in the standard of living in retirement. Written primarily for financial professionals, this book is a primer for enhancing lifetime income and minimizing the risk of running out of savings in retirement. The book further serves to cut through the maze of rules governing Social Security and will equip you with the information and heuristics you need to offer quality advice about Social Security to your clients approaching retirement.
Social Security & Medicare
OFFICIAL online Enrollment and Benefit Calculator
Medicare and You 2020 #10050
Everything you want to know
Different Parts of Medicare
Understanding your Medicare Choices
Medi Gap vs Medicare Advantage
How to sign up for Parts A & B
Is your test, service, or item covered?
Original Medicare Parts A & B
Medicare Advantage Plans & Part D Rx
Supplement Insurance (Medigap)
Low Income Help LIS
Payments if you are living outside of USA # 10137