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…
Category: Social Security claiming strategies
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…
The 7 most common Social Security mistakes
“Social Security is a complicated element of anyone’s retirement plan. Here are the most common mistakes individuals tend to make and how to avoid them.” by Scot Landborg. 1. Turning on Social Security at 62 while you’re still working. 2. Not utilizing the restricted application strategy (if you are eligible). 3. Remarrying without understanding the…
Mistakes to avoid when claiming Social Security Retirement Benefits
This is one of the best articles I’ve read about factors to consider when claiming SS retirement benefits. It is critical to focus on SS as longevity insurance and recognize that each individual and each couple is different. There is NO one size fits all answer to when to claim SS. Although targeted at CPAs,…
Understand Social Security before deciding when to claim retirement benefits
“Is it better to delay and get fewer years of higher income, or start early and get more years of lower income?” First, make sure you understand how Social Security benefits are calculated. Next estimate your expected longevity with a couple online calculators. Are you better off claiming benefits on your own record or your…