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Calculating your Social Security break-even age can help you decide when the best time is to begin taking benefits. You can do that using a Social Security break-even calculator.
Image source: Getty Images. There's also the option to delay your Social Security claim past full retirement age. For each year you do, up until age 70, your monthly benefits grow 8%.
Continue reading ->The post How to Calculate Your Social Security Break-Even Age appeared first on SmartAsset Blog. While you can technically start taking benefits as early as 62, you'd receive ...
A breakeven calculator is a calculator that's designed to help you estimate how many years it will take you to break even if you delay your Social Security benefits claim.
Here's how to calculate it, and how it could help you time when you take your Social Security benefits. One factor that can be especially enlightening is your Social Security break-even age.
If you wait until age 70 to collect Social Security, you would be a little under age 80 1/2 to break even. Discover More: 2 Changes Are Coming to Social Security in 2025 Determining Your Best Time ...
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