Deciding when to claim Social Security benefits is a significant financial decision that can have long-lasting implications on your retirement income. There are various factors to consider when determining whether to claim Social Security early or late, and each individual’s situation is unique.
This video will highlight some reasons why individuals may choose to claim Social Security benefits early or delay claiming them.
🔴 SUBSCRIBE for more FREE tips:
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
🤝BECOME ONE OF OUR HIGH VALUED CLIENTS:
It only takes 2 steps
1. Complete an application.
➡️
2. Once application is complete, take our Color of Money Risk Analysis to help us assess your overall risk tolerance.
➡️

Wish to Schedule an Appointment with the Retirement Education Center
➡️

Want to learn more? Watch our 1 hour Retirement Income MasterClass
➡️

Want to learn how to avoid 401(k) rollover mistakes?
Click to download our Free Strategy Guide
➡️

To Request a Complimentary Social Security Report
➡️

DOWNLOAD OUR EIGHT OBSTACLES TO RETIREMENT
➡️

To Request a Complimentary Retirement Analysis
➡️

TO ACCESS OUR GENERATIONAL VAULT
➡️

➡️CLICK HERE FOR YOUR SAMPLE FINANCIAL PLAN

Annuities: Perception vs. Reality brochure
➡️

Download the Tax Fact Sheet
➡️

Download our Flexible Protection for A Healthy Retirement
➡️

Download our 6 Reasons That Now Might Be a Great Time to Convert Your Traditional IRA to a Roth IRA brochure
➡️
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
📲CONNECT WITH US ON SOCIAL MEDIA:
Facebook ➡️
LinkedIn ➡️ linkedin.com/in/carson-graves-22103413/
Website ➡️
Website ➡️
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
DISCLAIMER
Insurance products and services are offered through Carson Graves, independent agent. Retirement Education Center, Carson Graves are not affiliated with or endorsed by the Social Security Administration or any government agency. All written content on this site is for information purposes only. Opinions expressed herein are solely those of Carson Graves, and our editorial staff. The presence of this web site shall in no way be construed or interpreted as a solicitation to sell or offer to sell Investment Advisory Services to any residents of any State other than the State(s) Carson Graves, is registered or where otherwise legally permitted. Carson Graves, Retirement Education Center do not render tax, legal, or accounting advice. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual adviser prior to implementation. Hyperlinks on this website are provided as a convenience. We cannot be held responsible for information, services or products found on websites linked to ours….(read more)

LEARN MORE ABOUT: IRA Accounts

CONVERTING IRA TO GOLD: Gold IRA Account

CONVERTING IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA

Social security is a government program that provides financial assistance to individuals who are retired, disabled, or survivors of deceased workers. One of the biggest decisions individuals face when it comes to social security is when to start receiving benefits – at age 62 or at age 70.

At age 62, individuals are eligible to start receiving social security benefits. However, the amount they receive will be reduced compared to what they would receive if they waited until full retirement age, which is typically between ages 66 and 67, depending on the year of birth. By starting benefits early, individuals may receive benefits for a longer period of time, but the monthly amount will be lower.

On the other hand, individuals who wait until age 70 to start receiving social security benefits will receive a higher monthly amount. This is because for each year beyond full retirement age that a person delays receiving benefits, their monthly benefit will increase by a certain percentage known as delayed retirement credits.

The decision of when to start receiving social security benefits depends on a variety of factors, including life expectancy, financial need, health, and employment status. Some individuals may choose to start receiving benefits early if they need the income to cover living expenses or if they have health issues that may prevent them from working longer. Others may choose to delay benefits in order to receive a higher monthly amount and maximize their benefits over the long term.

It is important for individuals to carefully consider their options and weigh the pros and cons of starting social security at 62 versus 70. Consulting with a financial advisor or using online calculators can help individuals make an informed decision based on their individual circumstances.

In conclusion, whether to start receiving social security benefits at age 62 or age 70 is a personal decision that should be based on individual circumstances and financial goals. By carefully considering the factors involved and seeking professional advice, individuals can make the best choice for their future financial security.