When is the Best Time to Claim Social Security Benefits?
Friday, 17 May 2024, 08:43
Maximizing Social Security Benefits
You have the option to claim Social Security benefits as early as age 62, but waiting until full retirement age (FRA) or even beyond can have financial implications.
Key Points:
- Claiming at 70: Offers higher monthly benefits but may not pay off if you have a shorter life expectancy.
- Health Considerations: Claiming earlier can provide relief from a stressful job and improve health outcomes in the short term.
It's essential to weigh the financial benefits against your personal circumstances to make an informed decision on when to claim Social Security benefits.
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.