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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 10162
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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Thanks! I understand that benefit estimates are at 62, 64,

Customer Question

Hi...thanks! I understand that benefit estimates are at 62, 64, 66 and 70...if I retire at 67 does that impact the amount of my benefit. It is estimated at $2500 @ 66.
JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Please tell me more, so we can help you best.
Customer: Hi Pearl...making sure you rec'd my question.
JA: Is there anything else important you think the Retirement Accountant should know?
Customer: I don't think so.
Submitted: 2 months ago.
Category: Social Security
Expert:  Lane replied 2 months ago.

Yes, if you retire at 67. there will be an additional 8% DRC (delayed retirement credit). If one waits until 70 to retire the additional 8% DRC's take the benefit to 132% of the full retirement age benefit that would be received at age 66.

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I hope this has helped. … Please let me know if you have any questions at all, before rating me

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If this HAS helped, and you DON’T have other questions … I'd appreciate a positive rating (using the stars or faces on your screen, and then clicking “submit") ... Otherwise I receive no crediting for the work here.

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Thank you!

Lane

I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.