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Should You Claim Social Security During the Pandemic?

The COVID-19 pandemic has put the country into a severe economic downturn, which may very well have affected you financially. But if you find yourself in a position of needing to decide whether to claim your Social Security now, there are some very important things to consider. For example, if your choice is to withdraw money from your retirement savings or to claim early Social Security benefits, you may wish to opt for early Social Security in order to preserve your retirement savings. Doing so, however, means you’ll also be permanently forfeiting the higher Social Security benefit you could get by waiting. This Motley Fool article by Christy Bieber explores the question of whether it’s better to claim Social Security early to preserve your retirement nest egg, or to seek alternative ways to cope with your financial issues. Click here to read more.

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