Community Corner
Advisor: Don't Apply for Social Security Benefits Until You're 70
A financial executive spoke recently to the La Cañada Kiwanis, and dispatched this array of advice about retirement.
The following article was posted by Donna Evans. It was written and reported by Al Restivo.
The senior vice president of First Financial Equity Corporation in Scottsdale, AZ told members of the Kiwanis Club of La Cañada on Thursday that they should wait until they are 70 years old to apply for social security benefits.
The advisor, Jeff Young, a frequent speaker at conferences throughout the nation, took Kiwanians through a primer on Social Security. He spoke about the complexity and myths surrounding the program as well as how the system works. Additionally, he mentioned the costly mistakes people make that could be avoided to reap bigger benefits.
This included a discussion on Delayed Retirement Credits, FICA, and Survivor’s benefits.
Young is from Texas and a graduate of the University of Houston. He is a retired
lieutenant colonel in the U.S. Army Reserves. He lives in Scottsdale.
Patch Asks: What specific questions about retirement do you have for Jeff Young? Patch is happy to forward them along.
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