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Another perspective on the “when to claim” question. - Cleveland.com
The decision to claim Social Security benefits at the earliest possible age–62–is tempting, and many opt to do that even with the understanding that higher monthly benefits would be available by filing later. It’s a tough choice, especially when the economy is tight. At the AMAC Social Security Advisory Service, we advise folks to consider all aspects of their situation (e.g., personal health, other available resources, spousal and dependent impacts, etc.) when deciding when to claim. It’s still a good idea, though, to be aware of other thoughts on the question, as in the case of a recent post by Cleveland.com contributor Leada Gore. In her analysis, Ms. Gore cites sources that say “92% of people would be better off waiting until at least 65 to claim Social Security.” Again, the final decision is a matter of individual circumstances.