The Biggest Question Regarding Your Social Security Benefits

Social Security is a common topic among those discussing, and planning for, retirement. And yet many people don’t know much about how the system actually works.

Remember, this is your money! You’ve worked for decades, paying taxes into a system that is set up to help you during your retirement years. When it’s time to retire, that monthly income will be waiting for you.

But, it’s a bit more complicated than that. Perhaps the biggest question of all is, “When do you collect your Social Security benefits?”

Medicare will tell you – and it has become a common belief – that there are only a few ways to collect your Social Security benefits: At age 62, at age 66, or waiting until you’re 70. But that’s not actually true! In reality there are 540 different ways you can collect your Social Security benefits, and each of them will affect you differently.

For example, some of my clients are collecting half of their spouse’s benefit now, and waiting until age 70 to claim their own checks. But for other retirees, that might not be the right choice either.

Timing your Social Security claim is one of the most important decisions you will make with regard to retirement planning. So let an expert help you weigh your options. Come in and talk with us, and we will help you identify all of the choices available to you and choose a path that works best for your situation.