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Stock impact report

Retiring? Navigating Social Security and a 401(k) amid tariffs [Yahoo! Finance]

Raymond James Financial, Inc. (RJF) 
Last raymond james financial, inc. earnings: 4/29 04:35 pm Check Earnings Report
US:NYSE Investor Relations: raymondjames.com/investor-relations
Company Research Source: Yahoo! Finance
But it varies person to person based on their situation. And deciding is often a best guess. New tariff-related market volatility may be amping up anxiety for anyone who needs to decide soon. Those ages — 62 and 70 — are the minimum age at which you can claim Social Security and the age at which the amount stops growing if you put off claiming to get the biggest monthly amount. You can wait longer, but there's no financial advantage in terms of how much a monthly benefit would be. Year to year, there's an 8% difference in the amount you get, with the amount at full retirement age as the basis. Say your full retirement is age 67, which is the case for anyone born in 1960 or later. For each year before that where one claims Social Security, there's an 8% decrease from that full retirement amount. If you wait, it goes up from that amount by 8% until it tops out at age 70. The Social Security Administration explains it with a hypothetical $2,000 full retirement monthly benefit. Ta Show less Read more
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