Social Security 101

This week, Craig Siminski, of Equity Design Group, shares with us some helpful information relative to Social Security:

——

Social Security is complex, and the details are often misunderstood even by those who are already receiving benefits. If you’re looking forward to Social Security, whether in one year or 30 years, it’s important to understand some of the basic rules and options and how they might affect your financial future.

Full retirement age (FRA): Once you reach full retirement age, you can claim your full Social Security retirement benefit, also called your primary insurance amount or PIA. FRA ranges from 66 to 67, depending on your birth year (see chart).

Claiming early:   The earliest you can claim your Social Security worker benefit is 62. However, your benefit will be permanently reduced if claimed before your FRA. At age 62, the reduction would be 25% to 30%, depending on…

To Read the Entire Article, Please Click Here

Craig Siminski is a CERTIFIED FINANCIAL PLANNER™ professional, with more than 20 years of experience. His goal is to provide families, business owners, and their employees with assistance in building their financial freedom.

Please remember to tell Craig the Green Bay News Network sent you!