Under the original rules for Social Security, workers became eligible for a benefit upon reaching their full retirement age of 65, with a slight increase in benefits if the worker delayed until as late as age 70.
However, full retirement age itself has always been a moving target. It was pushed from 65 to 67 in 1983, and Congress frequently raises the specter of pushing it even later — which, if acted on, could diminish the utility of a retiree delaying his/her Social Security disbursal. What follows is a look into how to navigate the knowns, and unknowns, of Social Security payouts.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access