When Should I Claim Social Security? Should I Delay?

 
 

 

When Should I Claim Social Security? Should I Delay?

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Social Security benefits can begin as early as age 62, and if taken early will result in a permanent reduction in your benefit amount (up to 30%). Social Security benefits can also be delayed up to age 70 and result in increased benefit amounts (up to 32%).  The decision about when to begin drawing fro SSI is unique to each person. Things to take into consideration include: your health, your job status, the amount your are drawing on retirement assets, your budget or spend rate and your spouse’s Social Security status.


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RetirementErica Hartwick