The article emphasizes the importance of deciding when to claim Social Security benefits, highlighting that the filing age affects monthly payments. Eligible at 62, individuals can claim earlier but face reductions unless they wait till the full retirement age (67 for those born after 1960). Delaying benefits past this age until 70 offers larger payouts. Factors to consider include ongoing work, savings, and health, all of which inform the timing of claims. With over 4 million Americans retiring, proactive decisions and potential consultations with advisors are encouraged for effective retirement planning.
Your Social Security filing age directly affects your monthly benefits, with options to claim at 62, full retirement age at 67, or delay until 70 for increased payouts.
Consider your current job status, savings, and health when deciding when to file for Social Security benefits. Each factor can greatly influence your overall retirement strategy.
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