Social Security Claimants Could Be Making a $182,370 Mistake
It's a common blunder that could have a direct impact on seniors' buying power.
Overview
One of the hardest financial decisions you might have to make in the course of retirement planning isn't deciding when to resign from your job or start tapping your savings. Rather, it's when to claim Social Security benefits.
You're allowed to start taking benefits at any point once you turn 62. If you want your monthly checks without a reduction, though, then you'll need to wait until you reach full retirement age, which is 67 if you were born in 1960 or after.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
- Why the world’s best-performing stock market this year fell into bear territory
- No Forward-Looking Guidance Needed: Fed Chair Kevin Warsh Just Dropped an Unmistakable Clue About Interest Rates
- The Stock Market Just Made a Move That Warren Buffett Has Called "Playing With Fire." History Shows He's Right.
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.