You and Social Security

Send us Fan MailBrian Akers and Sam Payne discuss Social Security eligibility, benefits, and planning strategies. Social Security can be claimed at age 62, with full benefits at 67 for those born in 1960 or later. Early claims are reduced, while delayed claims increase by 8% annually until age 70. The primary insurance amount is crucial, based on 30 years of earnings. Spousal benefits can reach 50% of the primary earner's benefit, but are reduced if claimed early. The Social Security Trust Fund is projected to run out by 2034, potentially leading to benefit reductions. Proper planning should include multiple income sources and consider future changes to Social Security.