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Asked by a 61 year old man from IL on 4/23/2019
Bill Smith
Bill Smith, CFA, CFP says
It will depend upon your full retirement age, which in turn is dependent upon the year you were born. As you were born in 1958 your full retirement age is 66 and 8 months. Roughly speaking, you will receive about 5% more by waiting from age 62 to age 63 to claim social security. And if your spouse will be claiming a spousal benefit that benefit ... (Read More)
Asked by someone from LA on 2/19/2019
Steve Chen
Steve Chen,  says
It's hard to answer this question without looking at your overall plan. Questions to consider: 1) Is your financial advisor a fiduciary or an insurance salesperson? (will they be paid if you buy this annuity?) 2) Have you created a retirement plan and do you need the income? (you can do that for free with NewRetirement ... (Read More)
Asked by someone from CA on 3/2/2019
Pete Woodring
Pete Woodring, RIA says
https://www.ssa.gov/oact/progdata/retirebenefit1.html (Read More)
Asked by a 66 year old man from FL on 3/7/2019
Pete Woodring
Pete Woodring, RIA says
If you don't need the income wait until age 70 to maximize your benefit. [email protected] (Read More)
Asked by a 56 year old man from WA on 3/10/2019
Pete Woodring
Pete Woodring, RIA says
The missing piece of info is your annual budget and/or total assets. That would help us determine the longevity of your assets. We have CFPs on board and are a planning centric firm. [email protected] (Read More)
Asked by someone from FL on 3/10/2019
Pete Woodring
Pete Woodring, RIA says
No. If you are less than your full retirement age (FRA), still working and receiving social security, they'll reduce your benefit amount, but you'll gain it back after you hit FRA. If you are beyond your FRA, still working and receiving social security, there's no temporary benefit reduction. (Read More)

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