January 10, 2014

Boomers Benefit from Delaying Claiming Social Security Retirement

"The age at which workers born between 1943 and 1954 can receive full Social Security retirement benefits is 66. If workers delay claiming benefits until age 70, they are rewarded with a whopping 8% increase in benefits for each year delayed. Workers who are retiring now can get the 8% increase each year for four years. In an environment where interest rates are historically low, the 8% Delayed Retirement Benefit bonus is one of the very best bargains around." Dr. Jeffery Miller explains "Why boomers get more from Social Security" and the benefits of waiting until 70 to claim at: http://www.marketwatch.com/story/social-security-boom-time-for-boomers-2014-01-09

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