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The Best Time To Start Your Social Security Benefits - MSN.com
When should I start my Social Security benefits? This is one of the most common questions the Social Security Advisors are asked at the AMAC Foundation. When to claim your Social Security benefits is a personal decision only you can make. If you are married you should discuss it with your spouse. This is a decision that will affect the rest of your life.
You should consider your expected longevity. None of us knows how long we’ll live, but it’s worth looking at your family history. You should also look at your other retirement assets, such as 401(k)s, pensions, IRAs, and savings. How heavily dependent will you be on your Social Security benefits? If married, how much will your surviving spouse depend on your benefits? Or do you need the money more now than later? Poor health or loss of employment can alter the best retirement plans.
Just remember, what is right for one person is not necessarily right for you. Make your decision carefully. Click here to read the full article by James Royal Ph.D. on MSN.com
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