Should I Take Social Security Now? by Max Kolbrenner, CPA
From the first paycheck of your first job, deductions for social security are part of your life. And for those who have worked for at least 10 years, the first day of eligibility is your 62nd birthday. People often ask me when should I start my social security benefits. As the video explains, it is often advisable to consider waiting to start receiving your social security benefits since the amount you will receive for the rest of your life will be much lower than if you wait until at least age 65. In fact, there may be benefits for waiting longer. You can get started on the conversation by requesting a social security statement from www.socialsecurity.gov , or by looking at what benefits you may be entitled to by clicking on Estimate your Life Expectancy and then clicking on the Retirement Estimator. For advice on your personal situation, please schedule a financial planning meeting with us and we can help you review your entire retirement picture.
See the video from T. Rowe Price-