Key 2025 Social Security Updates: What Retirees Need to Know Before Claiming Benefits
TL;DR Summary
Retirees considering claiming Social Security benefits in 2025 should carefully evaluate the financial implications of claiming early versus waiting. Claiming benefits as early as age 62 can reduce monthly payments by 25-30%, while delaying until age 70 can increase them by 15-25%. It's crucial to assess benefit options based on factors like income history and retirement plans, as there's no advantage to delaying claims past age 70. Consulting with the Social Security Administration can help retirees make informed decisions about when to start receiving benefits.
Topics:business#benefits#financial-advice#personal-finance#retirees#retirement-planning#social-security
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