Claiming Social Security benefits can be one of the more complicated topics in your financial planning. There are a multitude of rules that can have a significant and lasting impact on your future income stream and overall financial picture.
This flowchart addresses common issues including:
- How to determine Full Retirement Age (FRA)
- Effects of marriage and divorce
- Implications of collecting benefits before, at, or after FRA
- Annual limits
- Impact of continuing to work while claiming benefits
- How benefits will be taxed
