Social Security
Hi Terry,
Thank you for the articles on S.S.
I was born in June1957 and was hoping to make it to the age of 70.
It appears I’ll loose out on 8% if I collect this July.
Please confirm or help me better understand if I’m over thinking?
Thank you!
Terry Says
If you’ve waited this long, DO NOT COLLECT until the month after your 70th birthday!
When you contact SS a few months before your birthday to give them your bank account #, you must stress that you want to wait to get the full AGE 70 BENEFIT!
If you start earlier, you’ll lose that 8% annual increase in your base benefit — upon which future inflation adjustments will be made. Don’t do that!
