When to Claim Benefits Early
Waiting as long as possible is common advice on when to start claiming Social Security benefits, but that is not feasible for everyone. Social Security and personal needs are very much a case by case basis, and not everyone’s situation is the same. It may be beneficial to start claiming benefits as soon as you can, or earlier than full retirement age, it all depends on a multitude of factors including your current and long term health, investments, and savings. Another reason to start claiming early may just be as part of a strategy in married couples where the lower earner may start claiming benefits earlier than the higher earner in order to maximize on the income of the latter. For more information on this topic visit this article with Wade Pfau with Forbes.