Delayed Retirement Credit Benefits with Social Security

Understand the substantial financial benefits of waiting and taking advantage of delayed retirement credits.

[{"selector":"#anim-77268dcc-578f-4d70-87cc-83a4413e8fb2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] CREDIT GETIMAGE

[{"selector":"#anim-194145a1-adc6-4e42-966d-f82e0316719b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The SSA uses Delayed Retirement Credits (DRCs) to increase an individual's old age benefits each month after they reach full retirement age. The SSA uses Delayed Retirement Credits (DRCs) to increase an individual's old age benefits each month after they reach full retirement age. CREDIT GETIMAGE

[{"selector":"#anim-3b1b4f68-d047-43ce-997a-ab84d2e363b0","keyframes":[{"transform":"scale(1)","offset":0},{"transform":"scale(1.5)","offset":0.33},{"transform":"scale(0.95)","offset":0.66},{"transform":"scale(1)","offset":1}],"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] The SSA credits Additional Monetary Benefits (DRCs) at a rate of 0.66% per month or 8% per year. The SSA credits Additional Monetary Benefits (DRCs) at a rate of 0.66% per month or 8% per year. CREDIT GETIMAGE

[{"selector":"#anim-5896af7e-b76b-4cf4-886f-a8f29cadf5aa [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Let's say the primary sum insured is $1,000 and the FRA is 67. As well as filing for benefits until they reach age 70. Let's say the primary sum insured is $1,000 and the FRA is 67. As well as filing for benefits until they reach age 70. CREDIT GETIMAGE

[{"selector":"#anim-67a7843d-2c05-4067-b070-4eb20d561c93 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Your profit would increase by 24% to an estimated $1,240 monthly. This would equate to approximately $3,000 per year. Your profit would increase by 24% to an estimated $1,240 monthly. This would equate to approximately $3,000 per year. CREDIT GETIMAGE

[{"selector":"#anim-20c6f6f0-0638-419a-bda3-33b432ddfc04","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Filing at age 62 will give you full retirement age or payments for more years than at age 70. Filing at age 62 will give you full retirement age or payments for more years than at age 70. CREDIT GETIMAGE

[{"selector":"#anim-495328bc-e78a-4a89-aa50-4981389f0ab2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] It all depends on your family situation, your ability to work longer and later in life. It all depends on your family situation, your ability to work longer and later in life. CREDIT GETIMAGE

Delayed Retirement Credit Benefits with Social Security

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Delayed Retirement Credit Benefits with Social Security

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Understand the substantial financial benefits of waiting and taking advantage of delayed retirement credits.

Understand the substantial financial benefits of waiting and taking advantage of delayed retirement credits.

Delayed Retirement Credit Benefits with Social Security

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