Claiming Social Security before full retirement age (FRA) has consequences–namely, that you’ll get stuck with a lower monthly benefit for life.
In some cases, Medicare is allowing retroactive coverage by granting “equitible relief” to seniors who have not enrolled. Review the article for important resources.
When you’re gone, your spouse’s income will take a major hit–one that can be worsened significantly, if you make the wrong decision about when to claim.
Knowing when to retire and when to begin claiming benefits comes down to understanding yourself — and your finances.
Social Security benefits are a vital source of income for many retired Americans. However, as with any income, the federal government is able to tax Social Security benefits—how much depends on the retiree’s income.
Money Talks News’ recent article entitled “7 Social Security Benefits You May Be Overlooking” says that the Social Security Administration provides payments to spouses, children and those with disabilities, among others. Let’s look at this in detail. Spousal benefits via a husband or wife. Spouses can get up to half of their husband’s or wife’s…
While you can start Social Security payments at age 62, your monthly checks are reduced if you begin collecting benefits at this age. To claim your full benefit, you need to sign up for Social Security at your full retirement age, which varies by birth year.
When you begin claiming affects how much money you get from the program, and once you’re receiving checks, it’s difficult to undo your decision.
Uncle Sam is not the only one looking for a piece of your retirement income. Is your state on this list?
I am a senior who is still working to increase my Social Security benefits. After age 70, do you still get any increases if you continue paying into the system?
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