Where Are You Aiming With Social Security Claiming?

We all know that when you file for Social Security benefits can have a dramatic difference in the amount of that monthly benefit – and while that’s a highly individualized decision, this week we’d like to know what you (generally) recommend.
 
Yes, you can file for Social Security benefits as early as age 62 – but if you wait until what Social Security claims is full retirement age (a.k.a. FRA) – 66 2/3 these days - that monthly benefit can be significantly higher.  Or you can wait until age 70, and that monthly benefit can be even larger!
 
But, then again – there’s that time value of money – the ability to take benefits earlier and invest them – not to mention the concern that at some point in the future (and the program’s trustees now say that without adjustment, that will happen in 2034) the program’s benefits may need to be adjusted, perhaps significantly.  And then, there’s at least one academic who maintains that 70 now IS Social Security’s retirement age.    
 
With all that to consider – not to mention the breathless reports of record Social Security COLAs – this week, we’d like to know what, generally speaking, you recommend folks choose as their claiming date/time – and what you have in mind for your own timing.

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* 1. Although every individual situation can be different, generally speaking, what Social Security claiming date do you typically recommend?

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* 2. Although every individual situation can be different, generally speaking, what Social Security claiming date do those you work with generally choose?

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* 3. What Social Security claiming date do YOU plan to take/choose?

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* 4. Other comments about Social Security claiming, the best timing for Social Security claiming, how/if at all Social Security claiming might be influenced by current events, what the common wisdom says about Social Security claiming (assuming there is such a thing), your feelings about Social Security claiming, the impact of Social Security's financing, or life in general?

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* 5. What is your role working with retirement plans?

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* 6. What size plans do you PRIMARILY work with?

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* 7. Suggestions for future survey questions?  Seriously - what would you like to know about/from your fellow NAPA-Net readers?  Or what would you like to be asked?

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* 8. All responses are confidential, of course - but just in case you would like a response - or want me to know you responded - or just want to say hi - here's your chance to do so (don't forget your email)!

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