Key Factors to Consider for Early Social Security Claiming

Monday, 25 March 2024, 09:09

Learn why opting for early Social Security claiming can be beneficial, even with limited retirement savings. Factors such as poor health, job-related health risks, and entrepreneurial aspirations can make early claiming a strategic move. While it may reduce your monthly benefits, early claiming could potentially offer financial advantages based on individual circumstances.
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Key Factors to Consider for Early Social Security Claiming

3 Reasons to Opt for Early Social Security Claiming Despite Limited Savings

Sometimes, signing up early makes sense even when you're not independently loaded. There's no such thing as a right age or wrong age to claim Social Security. Rather, your filing decision should hinge on a variety of factors that are personal to you.

  • Your health is poor: Claiming early might be financially beneficial if you're unlikely to live a long life.
  • Your job is harming your health: If your job impacts your well-being, early claiming could be advantageous.
  • You want to start a business: Consider early claiming if it helps kickstart a business venture.

Claiming Social Security early isn't the right decision for everyone. But if these situations apply to you, you may find that filing early is a move you don't end up regretting one bit.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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