Life Expectancy is Crucial for Deciding When to Claim Social Security - Motley Fool
Do you know how long you will live? Well, no one can predict that with 100% accuracy, but a recent study found that about 60% of respondents had no idea even what average life expectancy is for those considering retirement. Said another way, most have no idea how long they might live and how long their retirement will last and, thus, are not properly prepared to plan for it. Reality is, your life expectancy is crucial information needed to plan for your retirement, and specifically, when to claim your Social Security benefit. If you expect average or above average longevity, then waiting longer to claim a bigger benefit makes a lot of sense. But if your life expectancy is below average, then claiming a smaller benefit earlier may be your smartest move. All of this is explained in this Motley Fool article by Kailey Hagen – click here to read more. And, if you wish to get an estimate of your personal life expectancy, try using this tool at the AMAC Foundation’s Social Security Report website.