Here’s another pretty good article on when to take Social Security.
Of particular note: It is a complicated decision and depends greatly on your personal circumstances.
If in doubt, enlist the help of a professional on this one!
Brace yourselves—the baby boomers are retiring! The first member of this massive generation’s leading edge applied for early Social Security benefits last fall (submitting her application on the Internet, no less). But, was opting for early benefits the wisest choice?
When it comes to Social Security, you’ve got three alternatives: Take it early, wait until your normal retirement age or wait even longer. The normal age for receiving Social Security retirement benefits is a moving target (see table below). You can still elect to take benefits early at age 62, or wait as late as age 70. Given the range of choices, as your 62nd birthday approaches, you’ll likely be thinking about more than just how all those candles are going to fit on the cake.
Before you consider whether it makes sense to take Social Security benefits earlier or later, let’s take a look at some of the rules.
Read the story.
Read the disclosure.
