Домой United States USA — Financial Oops! Did you claim Social Security too early?

Oops! Did you claim Social Security too early?

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You can undo an early Social Security benefits claim — but it will cost you!
Almost four in 10 Americans believe that if they claim Social Security benefits early before full retirement age, the reduced benefit they receive because of claiming early will increase automatically once they reach that age, according to a Fidelity survey. In reality, this isn’t the case.
Benefits could be reduced by as much as 30% if you claim Social Security benefits at age 62 when your full retirement age is 67, and this reduction in benefits is a permanent one — unless you take action soon enough.
Whether you claimed early because you didn’t understand how the reduction in benefits would work or you simply changed your mind, you do have a few options if you aren’t happy with the decision you made.
If you’ve decided you claimed Social Security benefits before you were ready, you have three primary options:
If you have filed for benefits after April 30,2016 and you decide you want to suspend your benefits, it’s important to note that anyone claiming benefits on your work record will have their benefits suspended as well. Before April 30,2016, it was possible for you to suspend benefits and allow your spouse to continue receiving benefits on your work record — but this is no longer the case.
If you made a mistake when you claimed Social Security benefits, you’re definitely not alone. Many people don’t understand exactly how the Social Security benefits system works, and the different claiming strategies can be confusing.
When deciding when to start receiving Social Security, make sure you know your full retirement age, as well as a few other key facts about how Social Security benefits are calculated. And, consider how long it would take to break even if you claim benefits early versus if you delay. The Social Security benefits chart in this article shows how benefits will be impacted based on when you claim and how long it will take you to break even if you delay.
With the right information, you can decide exactly what makes sense for your situation — and you now know how to undo a claim made too early if you made the wrong choice.
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