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Why You Shouldn’t Retire Early
The decision of when to retire is different for everybody and dependent on many situations, but the general consensus among experts is to wait as long as you possibly can to retire and start collecting Social Security benefits. The main reason for this is the amount of money you will get based on the age you are when you file. Many people know that you get higher benefits the longer you wait, but not many know just how big of a difference it can be. On top of this are the costs of medical expenses until you qualify for Medicare at 65. There are many other “hidden” costs that will add up to quickly deplete the savings that you do have outside of Social Security. For more information on this subject, visit this article by Mathew Frankel with mySanAntonio.com.
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.