Choosing when to claim Social Security benefits is a significant decision that influences retirement income. Benefits can be claimed from age 62 to 70, with delayed claims resulting in higher payouts. Knowledge of the Social Security system, including how benefits are calculated and the existence of spousal and survivor benefits, is essential. With many options available, it is important for individuals to make informed choices to avoid regrets and potentially lower benefits. Tools like those provided by SmartAsset can assist in navigating these important decisions.
Your decision about when to claim Social Security will have a big impact on your retirement security. While it may seem pretty easy to make this choice, the reality is that there's a lot more to it than you might think.
You have a choice of when to claim retirement benefits. You can claim retirement benefits as early as age 62. You can also delay your claim, which will increase your benefit amount.
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