When Should You Claim Social Security?

One of the biggest retirement questions we hear is: “When should I start taking Social Security?”

It’s a simple question, but the answer can have a big impact on your retirement income. Claiming benefits too early may reduce your monthly payments for life. Waiting longer can significantly increase your benefit — but that’s not always the best move for everyone.

Here’s what to consider:

• Your health and life expectancy

• Whether you plan to keep working

• Your other sources of income

• Spousal or survivor benefits

For example, claiming at age 62 means a smaller check, but more of them. Waiting until full retirement age or even age 70 can increase your monthly benefit by up to 30% — but you’ll receive fewer checks overall.

There’s no one-size-fits-all answer. That’s why personalized Social Security planning is so valuable.

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Key Takeaway: The timing of your Social Security claim can affect your income for the rest of your life.

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Want help figuring out what makes sense for you? Our team can analyze your options and build a strategy that fits your unique retirement timeline. Reach out today for a no-cost consultation.