2 Reasons to Claim Social Security at 65
Here's when signing up at 65 makes sense -- and when it doesn't.
Overview
One of the trickiest decisions you'll have to make in retirement is figuring out when to claim Social Security. You can file for benefits at any point once you turn 62. But you'll need to wait until full retirement age arrives to get your monthly checks without a reduction. If you were born in 1960 or later, that age is 67.
You may be inclined to file for Social Security at age 65. And if you do, you should know that your benefits will be reduced by about 13.33% compared to waiting until full retirement age.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
- After Skyrocketing 95% in 3 Years, Here Are the Bull and Bear Cases Investors Must Know About This Trillion-Dollar AI Stock
- Treasury yields rise as oil gains and U.S.-Iran tensions fuel inflation fears
- Domino's Pizza Trades at Just 20.1x Times Earnings -- Its Lowest Valuation in Nearly a Decade. There's Only 2 Explanations for Why Domino's Is This Cheap.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.