Drastically curbing immigration will shrink the working-age population and drain funding from Social Security and Medicare, writes @RonBrownstein (via @opinion) https://t.co/DTE6OnP8R7 ...

Social media users may love the “6-7” trend, but when it comes to their advice for baby boomers, a number of recent posts from TikTok financial influencers have users recommending that people start collecting their Social Security benefits early, at age 62. Most Read from Fast Company However, this differs from what financial planners typically recommend, which is that people delay their Social Security claim as long as possible to get the maximum monthly benefit at age 70. Here’s what to know about the ...

Key Points You may be gearing up to claim Social Security in 2026. If you're turning 66 next year, you won't be able to collect your monthly benefits in full. You may want to wait another year -- or even longer -- to sign up. The $23,760 Social Security bonus most retirees completely overlook › People have a tendency to celebrate big birthdays like 60 and 65. People's 66th birthdays might sometimes get swept under the rug. But 66 has long been a big deal to older Americans for one key reason -- i ...

Key Points At 67, you'll be eligible for your Social Security benefits without a reduction. You may want to hold off on filing, depending on your situation. You may need to sign up for Medicare if you didn't do so already. The $23,760 Social Security bonus most retirees completely overlook › At a certain age, it pays to acknowledge and celebrate each birthday that arrives. And you may be excited about turning 67 not just because you've enjoyed another year around the sun, but because your 67th bi ...

Social Security is on the brink of insolvency, and every further delay makes the fix more difficult (via @opinion) https://t.co/8LEIJxgR9X ...

If you are turning 62 soon, you need to avoid making a decision that could shrink your Social Security benefits substantially for life.When you turn 62, you hit an exciting milestone. You become eligible for Social Security benefits for the first time. It may be tempting to jump into claiming these benefits right away so you can retire and start enjoying life.Before you do that, though, there is an important warning about any early Social Security claim that you need to read.This warning could affect your r ...

Key Points Social Security is an earned benefit you have to qualify for. The requirements change because the cost of a work credit changes. You will need to earn more money if you want to qualify for Social Security based on your 2026 work year. The $23,760 Social Security bonus most retirees completely overlook › A new year is fast approaching, which means that there will be some important changes to Social Security. Some of these changes primarily affect retirees or others who collect benefits, ...

Group 1 - The article discusses the varying retirement plans of individuals, emphasizing that having more money facilitates the realization of these plans [1] - Social Security is a significant component of retirement finances for many Americans, leading them to seek ways to maximize their benefits, including continuing to work after claiming benefits [2] - The Social Security retirement earnings test (RET) is designed to prevent individuals from receiving full benefits while earning substantial income from other sources [4] Group 2 - For individuals who will not reach full retirement age in 2026, the earnings limit is set at $24,480, an increase from $23,400 in 2025, with benefits reduced by $1 for every $2 earned over this limit [5] - For those reaching full retirement age in 2026, the earnings limit is $65,160, up from $62,160 in 2025, with benefits reduced by $1 for every $3 earned over this threshold [6] - It is crucial to note that the RET only applies to those claiming Social Security before reaching full retirement age; once full retirement age is reached, there are no earnings limits [7]

Core Argument - The article discusses the growing trend among social media influencers advocating for early Social Security benefits at age 62, contrasting with traditional advice to delay benefits until age 70 for a larger monthly payout [1][2]. Group 1: Early Claiming vs. Delayed Benefits - Social media influencers suggest that claiming Social Security at 62 and investing the funds could yield higher returns than waiting for a larger benefit [1][3]. - Traditional financial advice recommends delaying benefits until age 70 to maximize monthly payouts, which can increase by approximately 8% for each year of delay [2][4]. - Claiming early can result in a reduction of benefits by up to 30% compared to the amount received at Full Retirement Age (FRA) [4]. Group 2: Investment Returns and Risks - The S&P 500 has returned about 14% in the current year, with a decade-long average annual return of over 12%, leading to the argument that investing early benefits could compensate for lower Social Security checks [5]. - However, the article emphasizes that future investment returns are uncertain, while delayed Social Security benefits provide a guaranteed, risk-free income with annual inflation adjustments [5][6]. Group 3: Importance of Inflation Protection - Social Security benefits are highlighted as the primary source of income for most retirees, with annual cost-of-living adjustments serving as a crucial protection against inflation [6].

On paper, it seems rather obvious that the best way to optimize your retirement is to delay claiming Social Security for as long as possible. Must Read According to the Social Security Administration, taking your benefits as early as possible (age 62 for those born after 1960) could result in lower monthly payments. At age 67, you qualify for full benefits, but if you delay your claim until age 70 you could enjoy a 24% total boost to monthly benefits. At 70 your monthly benefit stops increasing. With th ...