Social Security Optimization
Your Social Security Optimization
When it comes to choosing when you take your Social Security benefit, there are a myriad of options. Once selected, your decision is irrevocable after 12 months. Here are some questions to consider before starting your Social Security benefit:
- What is longevity like in your family?
- Are you eligible for a spousal benefit?
- Does my claiming decision affect my spouse?
- What other sources of income will you have in retirement?
- What are the benefits of delaying your Social Security to age 70?
Over 60% of Americans take their Social Security benefits at age 62, however, if you expect to live past age 82, you could be missing out on substantial benefits due to the decision you made 20 years prior. When you retire and when you take Social Security are often thought of as a single decision, but in reality they are two separate decisions and should be treated accordingly. This is just one of many complex, critical decisions that you will have to make when preparing for retirement. We take the time to walk you through the comprehensive thought process that accompanies these vital decisions. Once it is time to apply for Social Security benefits, we would be happy to walk you through the online filing process in lieu of a visit to the Social Security Office.