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The “When to File” Question Again, Along with an Analysis of the Ramificatons
For most folks approaching Social Security eligibility, it’s probably a vexing question…do I file as soon as I can, wait until my full retirement age, or hold off until age 70? The standard answer provided by those close to the program’s mechanics is, “It depends.” As frustrating as that standard answer is, reviewing how benefit amounts are determined quickly illustrates why there really isn’t a “one-size-fits-all” solution.
In a post yesterday on their website, the Motley Fool’s Sean Williams tackles this question, providing a detailed look at the factors that need to be considered in this decision. His article and explains approaches to zeroing in on the filing age most appropriate for you, and discusses the pros and cons of various filing ages. Check it out here.