Russell Gloor outlines key considerations for early Social Security claims

4 articles · Updated · WBIW.com · Apr 30

The AMAC Foundation adviser said claiming at 62 yields about 70% of the full-retirement-age benefit, while workers face a 2026 earnings cap of $24,480.
Benefits are cut by $1 for every $2 earned above that limit before full retirement age, and early claims permanently reduce the base used for future COLA increases.
Gloor said delaying can raise payments by roughly 6% yearly until age 67 and about 8% annually until 70, with implications for survivor benefits, work plans, health and longevity.

With a 24% benefit cut looming, does delaying Social Security for a larger payout still make sense?

Could a new $100,000 cap on benefits actually fix Social Security's massive funding crisis?