A client reaching age 66 now is at “full retirement age,” according to the Social Security rules. Such seniors can claim their retirement benefits without any reduction, no matter how much they continue to earn.

Most seniors claim Social Security at age 66 or earlier but they don’t have to do so. “I typically recommend that clients wait until age 70 to take benefits,” says Mark Lumia, CEO of True Wealth Group in Lady Lake, Fla.

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