I contribute 15% to my 401(k), which is currently valued at $165,000. I also rolled over an old 401(k) with $125,000.” ...

A: You and your friends are all wrong. Social Security retirement benefits are based on the highest 35 years of earnings.

Three of the most common ages to claim Social Security for workers today are 62, 67, and 70. But clearly, that's a pretty big range. Let's examine the pros and cons of filing for Social Security at ...