This Is When You Should Start Collecting Social Security, According to Experts

Source: Time

By ELIZABETH O’BRIEN

May 17, 2018

It’s one of the most popular questions in retirement planning: When should I claim Social Security? You might as well be asking, how long will I live?

“Life expectancy is the key driver,” says Ron Mastrogiovanni, founder and CEO of HealthView Services, a Danvers, Mass.-based company that provides retirement health care cost data and tools to financial advisors.

image (4)

Claiming Social Security too early can cost you tens of thousands of dollars over the average lifetime. And yet, many pre-retirees don’t fully understand this: Nearly half didn’t know that your monthly benefit changes depending on whether you start collecting before or after your full retirement age, which is around age 66 or 67 for everyone born in 1943 and after, according to a quiz by MassMutual released this week.

Read more

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.