Abstract
Most Americans rely on Social Security for retirement support, but understanding when to start benefits is crucial. Claiming benefits early at age 62 reduces the overall amount, while delaying increases it by 8% annually. Factors like health, life expectancy, and income needs should influence the decision. Full benefits are available at ages 66-67. Widows, widowers, and divorced individuals may have additional benefit options. Consulting with an advisor is recommended to optimize benefits and ensure a successful retirement plan.
Recommended Citation
Moyer, Bobby
(2024)
"UNDERSTANDING SOCIAL SECURITY,"
Virginia Dental Journal: Vol. 100:
No.
3, Article 11.
Available at:
https://commons.ada.org/vadentaljournal/vol100/iss3/11