I have two points of info regarding social security that I have found few people know about!...The first one is when one turns 62 years old, any children under 18 will get also 50% of the retiree parent's benefits as well..So will the caretaker, usually, the mother, so in effect the benefit to the family doubles!...Check out www.socialsecurity.com and click on forms and publications then click on retirement benefits and then click on benefit for children and there you are!
The second little known benefit is that if one decides to take social security at 62 instead of the maximun benefit age of 66 in my case, one can then apply to social security later at the maximun benefit age to repay the benefits received since 62 and pay no interest!...Thus an interest free loan for 4 years in my case!....One should carefully consider this option as one believes he or she is in good health, he or she can then apply to receive 25% more monthly!
The second little known benefit is that if one decides to take social security at 62 instead of the maximun benefit age of 66 in my case, one can then apply to social security later at the maximun benefit age to repay the benefits received since 62 and pay no interest!...Thus an interest free loan for 4 years in my case!....One should carefully consider this option as one believes he or she is in good health, he or she can then apply to receive 25% more monthly!
