With all of the buzz about Social Security strategies available through different media, people often forget to recognize some of the “Key” ages associated with S.S. Below is a summary of the current ages that various benefits are available (Per www.ssa.gov).
Age Benefit
60 Earliest age to receive survivor benefits (Reduced)
62 Earliest age to claim your own or spousal benefits (Reduced)
65 Time to sign up for Medicare Part A (S.S.A. recommends 3 months prior to your 65th birthday)
66* Eligible for 100% benefits or 50% spousal benefits, Eligible for 100% Widow(er) benefits
70 Latest age you should file (No delay credits after this age)
* = if you were born between 1943 and 1954, for other birthday ranges go to:
http://www.socialsecurity.gov/planners/retire/agereduction.html
You are now able to file for you S.S. benefits online, making a visit to the S.S. office unnecessary unless you have unusual circumstance and/or unanswered questions. Keep in mind you still need to file three months before you expect to begin benefits.
Brandon M. Smith,
LPL Investment Advisor Representative
Lifetime Planning, Inc.
Securities offered through LPL Financial, member FINRA/SIPC