Social Security Strategies: Understanding the “Break-Even” Analysis
The question of when to file for Social Security benefits is one of the most daunting decision points folks aging into Social Security face, and it’s predominantly a personal one based on individual factors. For example, when do you need the cash flow? Or, what’s your expected longevity? And, closely related to that, what is the state of your health? While it is a personal decision, though, it’s helpful to many folks to be aware of their “break-even point”–the point at which the amount they receive by claiming later later equals the amount they would have received had they filed early.
MSN.com reporter Lorie Konish provides guidance on understanding how the “break-even” point factors into one’s claiming decisions, and covers some “blind spots” that should be considered when making the when-to-file decision. Her article discusses situations where misunderstanding of the “break-even” analysis can cause future spousal benefit problems. Read her post here…
Also, if you’re unsure about how the “break-even” concept applies to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public service to help Americans navigate the complexities of this program. Learn more about it here…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.