My sister was born in 1957, so her full retirement age would be 66 and 6 months. Her plan is to take ss when she turns 65. Will it make a difference if she waits to file , at 65 and 6 months benefits wise? Thank you.

Hi. Yes. Social Security benefits are reduced for each month that you start drawing prior to full retirement age (FRA). The percentage reduction applicable in your sister's case would be 5/9ths of 1% per month. So, if your sister claims her Social Security retirement benefits 18 months prior to her FRA her unreduced rate will be reduced for age by 10%, vs. a roughly 6.66% reduction if she start drawing 12 months prior to her FRA.

It sounds like your sister should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze all of the options available to her in order to determine her best strategy for maximizing benefits.

Best, Jerry