If You Haven't Done This Calculation, You're Not Ready to Claim Social Security
Don't file for benefits before knowing this key information.
Overview
Retirement is a period of life that requires a lot of big decisions. Where will you live? How will you keep your portfolio invested? When will you start tapping your IRA or 401(k)?
Another big decision you'll need to make is figuring out when to claim Social Security. You're entitled to your benefits without a reduction at full retirement age, which is 67 if you were born in 1960 or later. While you can sign up for Social Security as early as age 62, for each month you file ahead of full retirement age, your benefits are permanently reduced.
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Details
Source
Originally published at www.fool.com.
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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.