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Why Claiming Social Security at 64 or 67 Could Be a Big Mistake

Most Americans in good health benefit by delaying claiming Social Security retirement benefits to age 70 because their benefit increases with each year of delay past age 62 (up to 70), the first year of qualification. Social Security provides inflation-linked longevity insurance and, up until Covid, life expectancy was increasing in the U.S. You can…

Want a guaranteed 8% return on your retirement investments?

“If you delay Social Security by a year and instead dip into savings to cover the missed benefits, you’re effectively buying an annuity with an 8% payout. That’s a deal that’s hard to beat, as Rick Connor explains. “How do you buy an annuity from the Social Security Administration (SSA)? For each year that you…

Calculators to help you decide when to claim Social Security retirement benefits

 “One of the most important retirement decisions you will make is when to apply for Social Security. Several retirement calculators have been developed to help you determine the optimal retirement age to start Social Security payments.” (Thanks to Emily Brandon writing for US News and World Report). Here are 10 Social Security calculators worth trying:…

Social Security and divorced spouses

My ex-husband is 60 years old. I am 62. Can I file for benefits now based on his work record? No. Most workers need to be at least 62 years old to file for Social Security retirement benefits. (Exceptions include survivors and people with disabilities.) That requirement applies to divorced spouses, too. Before you can…