I am 67 years old and starting taking my SS benefits at age 62. I would like to suspend my benefits until age 70. When I called the local SS office I was told that my benefits would not increase at age 70 because I’ve been getting my benefits for more than 4 years now. This was not mentioned in a Rule Your Retirement article that suggested suspending SS benefits until age 70 to save on current income taxes and get a higher payment at age 70 - does anyone know if the info I received from my local SS office is correct?
This was not mentioned in a Rule Your Retirement article that suggested suspending SS benefits until age 70
Hey Pamela June. My guess is the intent of the article was for you to suspend taking SS benefits until you are 70 not start taking benefits at 62 and then all of a sudden decide that was a bad idea and renege on your decision, say kings X and ask for more benefits. Uncle Sam ain’t that benevolent.
Regards,
ImAGolfer
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Hi, pamelajune22.
I suspect ImAGolfer is right. As a RYR subscriber, I would visit the RYR Community page:
https://www.fool.com/premium/rule-your-retirement/community/…
And select the Social Security & Pensions discussion board to talk with your fellow Fools who are experienced in this area.
Fuskie
Whose own plan is to delay filing for social security for as long as possible so as to maximize his monthly benefit…
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