Under the original rules for Social Security, workers became eligible for a benefit upon reaching their full retirement age of 65, with a slight increase in benefits if the worker delayed until as late as age 70. However, full retirement age itself has always been a moving target. It was pushed from 65 to 67 in 1983, and Congress frequently raises the specter of pushing it even later — which, if acted on, could diminish the utility of a retiree delaying his/her Social Security disbursal. What follows is a look into how to navigate the knowns, and unknowns, of Social Security payouts.

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