• Question
  • Early SS benefits receipt

    Asked by someone from Locust Grove, GA on 2/23/2013

    If I begin receiving SS benefits at my current age of 65, is it ok to assume the benefit estimate is 8% less than my full retirement age of 66 as shown on the latest benefits estimator provided by SS?

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  • Categories: How Calculated?, Social Security, Guaranteeing Income

Answers

  • Editorial 

    Editorial 
    NewRetirement

    San Francisco, CA

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  • I am not sure about the 8 percent reduction -- that is a fairly big number.

    But the benefits estimates provided by the Social Security Administration are usually correct.

    Social Security can be a great source of lifetime retirement income and it s a good idea for most retirees to delay the start of Social Security in order to maximize their monthly benefits.

    The Social Security Administration is good at answering individual's questions about their benefits. You can find local contact information here:
    http://www.ssa.gov/pgm/reach.htm

    We wish you all the best!
    http://www.NewRetirement.com

  • Login to rate this answer:   Answered on 2/24/2013
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