Updated Friday, November 28, 2014 as of 1:10 PM ET

Advisors Still Don't Know Enough About Social Security

Over the last few years, financial advisors have begun to recognize the importance of Social Security benefits to their clients even to clients with significant financial assets.

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Comments (3)
The teaser line is incorrect. You should never wait until you are older than 70. Continuing to work past 70 may increase your benefit, but you should still start collecting.

Advisors Still Don't Know Enough About Social Security
by DAVE LINDORFF

You've probably heard it's best to wait until age 70 to file for Social Security benefits, if possible. But do you know when it's advisable to wait even longer?
Posted by HELEN H | Monday, January 27 2014 at 11:31AM ET
The accumulation numbers are not right. $2000 a month form 66 to 85, equals $456000 plus COLA. and the $3000 per month form 70 to 85 is $540000 plus COLA, did I miss something?
Posted by THOMAS P | Monday, January 27 2014 at 11:57AM ET
Helen,

That "teaser line" like most headlines, is written by someone who usually knows little about the technical content (one of the reason that I insist on the right to write my own headlines for my own articles). But nowhere in Dave's piece does it say DO NOT collect until after 70. It says that working past 70 while collecting a benefit check can still increase the actual amount due to changes in the 35 year average (not changes as a result of delayed retirement). He got it right; the headline writer got it wrong!

Thomas: The math is calculated at $2,000 per month EACH (not that clearly stated, I agree),but the older couple example clearly says $3,000 each
($6,000 a month) and times 15 years that is a little over $1 million.
Posted by Lawrence S | Monday, January 27 2014 at 4:03PM ET
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