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Reply to "Social Security Family Benefits and Early Retirement Age"
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[quote=Anonymous]Social Security pays family benefits to spouses and dependent children under 18. This affects the retirement age decision. For example, the maximum benefit at age 67 is around $4k/month or $50k/year. It increases to $5k/month or $60k/year at age 70. So, a single retiree needs to live an extra 12 years beyond age 70 to break even, not including interest. But if you receive an extra 50% or 75% in family benefits then you need to live an extra 18 or 21 years. I guess they want us to take benefits at 67. [/quote]
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