Retirement Planning/social security benefits


I know that if I take social security benefits at age 66 instead of age 62, they would be more. But can someone take them at anytime between age 62 and 70, say at age 64 and the amount would be somewhere inbetween? Or if you don't take it at 62, do you have to wait until age 66? On the statement I get, they only show what the amounts would be at age 62, 66 and 70.

financial qb
financial qb  
Lee thanks for your question. Based on the rules from the Social Security Advministration you can retire at any time between age 62 and your full retirement age (FRA). However, if you start benefits early (before FRA), your benefits are reduced a fraction of a percent for each month before your full retirement age. In order to get the benefit you will be receiving you must contact the SSA offices who will provide you with the monthly amount.

Its important to note that planning is crucial when making a decision on when and how to take social security. Depending if you are single or married, based on your personal situation there are various planning methods you can use in order to maximize your social security benefits over time. Also understand that the social security administration WILL NOT and is NOT ALLOWED to provide you with this information. They are there just allowed to provide you what your payment will be.

Please make sure to review your options with a Certified Financial Planner in your area that understands social security and can provide you with information that would be most able to benefit you.

Thanks again and good luck.  

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Richard E. Reyes, CFP


I can provide answers to questions relating to retirement especially relating to; income distribution, tax efficiency, long-term care insurance, life insurance, estate planning, asset protection, variable and fixed annuities, alternative investments and prudent portfolio design.


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