Why Filing at 65 Is Often a Mathematical Trap
Confused by Social Security?
Many retirees assume they should file Social Security at 65 because that’s when Medicare starts. But this connection is misleading. Here’s why filing at 65 is often a trap.
1. You Lose 12–15% of Your Benefit for Life
If your FRA is 67 and you file at 65, you lock in a ~13% permanent reduction. This continues for the rest of your life and your surviving spouse’s life.
2. You Miss Delayed Credits
If you wait from 65 to 70, you gain 40–50% more monthly income. Survivor benefits increase by the same percentage. That’s enormous.
Unsure if 65 is right for you?
Let’s evaluate the math for your household.
3. Medicare Doesn’t Require Social Security
Most people don’t realize this. You can file for Medicare alone without filing for Social Security. Keep your benefits growing.
About Author
Ray R. Harris
Ray R. Harris, RSSA®, partners with tax and legal professionals to provide specialized Social Security claiming analysis for high-net-worth clients aged 58–70. A former executive with an MBA and background in Finance, Ray mitigates liability for his partners by ensuring their clients optimize spousal benefits, tax efficiency, and lifetime income.
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