This Lesser-Known Social Security Rule Is Helpful but Hard to Take Advantage Of
Some Social Security rules are more well-known than others. You're probably aware that you can sign up for benefits starting at age 62. You may also be aware that you can't claim your complete monthly benefit without a reduction until you reach full retirement age, which is 67 for anyone born in 1960 or later.Another fairly well-known Social Security rule is that delaying your claim past full retirement age results in boosted benefits. Specifically, your benefits rise 8% per year you delay, up until age 70.Image source: Getty Images.Continue reading
Some Social Security rules are more well-known than others. You're probably aware that you can sign up for benefits starting at age 62. You may also be aware that you can't claim your complete monthly benefit without a reduction until you reach full retirement age, which is 67 for anyone born in 1960 or later.
Another fairly well-known Social Security rule is that delaying your claim past full retirement age results in boosted benefits. Specifically, your benefits rise 8% per year you delay, up until age 70.
Image source: Getty Images.
