When to start getting Social Security?

Retirement BenefitsRetirement Benefits # 10035  

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Social Security
Understanding the Benefits # 10024
25 pages

Social Security - Understanding the Benefits

Video
How Social Security Can Help you Plan for Retirement
30 minutes

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.

Apply ONLINE

Bibliography

Fool.com

SSA.gov

Charles Schwab

How Work Affects Your Benefits, and

IRS Publication 915: Social Security and Equivalent Railroad Retirement Benefits.

Retirement Benefits #10035

Terry Savage.com Social Security – Still have mortgage?

Dave Ramsey – Take Social Security early?

Suze Orman – Optimum Age to retire

Social Security Strategies: How to Optimize Retirement Benefits  Book 

 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 Application to receive benefits

Social Security & Medicare
OFFICIAL online Enrollment  and Benefit Calculator

Medicare and You 2020 #10050  
Everything you want to know 

Medicare and you

Different Parts of Medicare 

A = Hospital
B = Doctor Visits - Out Patient
C = Medicare Advantage or Medi Gap
D = Part D Rx

Video

Understanding your Medicare Choices
Medi Gap vs Medicare Advantage

Topics

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
Definitions


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social.security.payments.outside.usa

Payments if you are living outside of USA # 10137

3 comments on “Optimum Age to start taking benefits 62 – 70?

  1. Is there a calculator to see what your benefit is, if you continue working…

    How much is withheld and given to you later… 

    How much extra do you get when you finally retire as you’ve paid more into Social Security, while you are getting a benefit?

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