Why it Makes Sense to Play the Social Security Waiting Game

Benefits grow by 5% to 7% each year you delay starting between age 62 and your full retirement age, which is between 66 and 67, depending on the year you were born.

Why You Should Wait Before Taking Social Security During Crisis

For millions of American who qualify for Social Security, the current crisis is “one and done.” They’ve decided they are not going to wait. They’re going to retire and take Social Security now.

Social Security: the ‘Break-even’ Debate

In the example in the article, a 65-year-old who is slated to receive $12,000 a year from Social Security could, by waiting until 66 to sign up for benefits, get $12,860 a year instead. By comparison, it would cost quite a bit more – about $13,500 – to buy an equivalent, inflation-adjusted annuity in the private insurance market that pays that additional $860 a year.

What Millennials Get Wrong about Social Security

Few issues unite millennials like the future of Social Security. Overwhelmingly, they’re convinced it doesn’t have one.

2 Easy Steps to Create Retirement Income That Lasts

An academic center studying longevity and a professional body dedicated to managing the risks of aging think they have a solution to what economist and Nobel laureate William Sharpe has called the “nastiest, hardest problem in finance”: turning retirement savings into a predictable stream of income over a period that could span years or decades.

Why You Should Consider Working Longer and Delaying Social Security Benefits

The single most effective way to maintain your standard of living in retirement is — ta-da! — not to retire. Or at least, not to retire as soon as you planned.

How To Choose The Best Social Security Option

Getting my Social Security statement every year reminds me of an old Tom Petty lyric: “the waiting…is the hardest part.”

WDRB TV  Louisville, KY

Point of View | It Pays to Wait on Social Security

It’s tempting for some to retire early and start taking social security benefits at age 62, but if you can wait, that is the smart move. The average Social Security benefit in Kentucky is roughly $16,000 per year. Even with Social Security, some 13% of Kentucky seniors live in poverty.

Taxes and Finance: How to Maximize Your Social Security

You can begin receiving your Social Security retirement benefit as early as age 62. But by putting off your benefit start date you can receive a check that is 8% higher for each year you delay receiving your benefit.

Louisville Workers Can Gain Big by Delaying Retirement

Workers in Louisville face a major — and very real — retirement crisis. Wealth inequality and workplace changes have practically sawed off two of the legs of the traditional retirement stool: pensions and private savings.

Delaying Retirement Boosts Social Security Checks

It’s no secret that American workers face a major retirement crisis. Wealth inequality and workplace changes mean more and more retirees have come to rely on Social Security for most of their income.

Advisors Help Clients Tackle the Complexities of Social Security

Eva Dion’s 62nd birthday meant one thing to her husband, Jim. It was time for her to collect Social Security. “I’m from the old school,” Jim, 74, said. “Grab the money while you can.”

NCPSSM Says It Pays Off to Delay Claiming Social Security Benefits

You have an eight-year window to choose to sign up for Social Security to collect your monthly benefit check. Some may be forced to collect Social Security at age 62, because of their finances, health and lifestyle.

One Surprising Way To Live Longer

When thinking about retirement, most of  us see a “cold turkey” end to work. We just quit all forms of employment. But is that the best way to enjoy a long life? According to recent research, the surprising answer may be no.

Opinion: Don’t Make This One Social Security Blunder

When you claim Social Security, don’t make this one really, really dumb move. Nearly half a million of you will probably start claiming Social Security this month.

Report: Most Working American’s Not Saving for Retirement

Less than four months ago, a research report released by the Washington, D.C.-based National Institute on Retirement Security (NIRS), using an analysis of U.S. Census data, found that even with the nation’s economic recovery, savings levels of working age Americans are inadequate for America’s retirees to rely on.

Should I File for Social Security Benefits as Soon as I Stop Working?

Many seniors plan to apply for benefits upon leaving their jobs, but that could be a mistake for several reasons.

For a Larger Social Security Check, Tap Your IRA First

Many people who wind up with a smaller Social Security check because they claim their benefit early could have waited longer to file, thanks to funds in their IRA.

Boomers Find Reasons to Retire Later

It is one of “the most significant labor market trends” in the United States, says Wellesley College researcher Courtney Coile.

Why People Who Claim Social Security Early Often Live to Regret It

Your retirement standard of living could very well be worse if you claim your Social Security benefits at age 62. That’s surprising because the Social Security Administration goes to great lengths to ensure that, regardless of when retirees claim their Social Security benefits, they will be no better or worse off. Those claiming at age 62 — “early claimers,” as they’re called — will receive more years of benefits than those who wait, but at a reduced rate.

Can You Pass The Retirement Marshmallow Test?

In a famous experiment, a child is given a classic problem: Eat a marshmallow now or wait for a bigger reward. Isn’t that how most people face retirement or financial planning? Live now and hope for the best later? As in the experiment, a little self-control and savings discipline goes a long way to ensuring financial comfort in retirement.

When Should I Start Taking Social Security? 60-somethings Want to Know

Don Mitchell loves his job as a software engineer, has no plans to retire, and doesn’t turn 60 till next March. But he’s already begun pondering a weighty question facing most Americans in their early 60s: when to begin collecting Social Security benefits.

The Numbers Keep Pushing Retirees to Hold Off on Taking Those Social Security Checks Until 70

The most common age that people choose to start collecting their monthly Social Security payments is 62.

Why People like Ruth Bader Ginsburg and Betty White Won’t Retire Until Their 90s

While the average retirement age is 63, some people work well past that because they love it — or can’t afford not to.

Forbes: Why I’m Walking Away from Claiming Social Security Early

Part of me wants to take the money on the table early, although the math side of my brain says the premium for waiting until 70 is more than worth it. Where can you earn a guaranteed 8% a year on anything?

Kiplinger’s: When to Claim Social Security: 3 Timing Scenarios

“My dad was healthy, active and fit until he was struck with Parkinson’s disease. He realized that by deferring his benefit to age 70, he would lock in a larger benefit.”

Forbes: Social Security – Wait Or Take It Early?

Social Security rewards you for delaying your benefits. Your lowest payment will be at 62, when you qualify for “early” payments. Then you get a boost at your “full” retirement age (FRA), which, for most people, is 66. Then you max out at 70.

U.S News: 8 Benefits of Claiming Social Security Later

You will qualify for bigger monthly payments from Social Security if you sign up at an older age. Delaying claiming Social Security is particularly beneficial to people who have a long life expectancy or want to leave larger payments to a surviving spouse.

Investment News: Social Security: Later is better

Americans are finally getting the message: Waiting to claim Social Security until full retirement age or later results in bigger monthly benefits for life and can also boost survivor benefits for a remaining spouse.

Time: Why It Pays to Delay Social Security Benefits

Social Security is a gilt-edged insurance policy that protects you from a major risk: living a very, very long time—long enough to outlast your money.