Today’s tip will cover “What is the best age to start collecting social security”
The decision you make about what age you start collecting social security benefits is an important decision that will impact you for many years. Understanding the impact of taking your benefits at ages 62, 67, 70 or any age you choose is important because depending on when you claim your benefits this can affect your overall financial and retirement plan.
Waiting until age 70 to start taking your social security retirement benefits is generally the best, however this can vary depending on your marital status and your health. Age 70 is the date when you get the highest benefit which is your full retirement age amount plus increases for every year that your held off collecting.
Now remember, there is no single method that is appropriate for everyone when it comes to when should you should claim your benefits. So, I would suggest you work with a CERTIFIED FINANCIAL PLANNER™ professional like myself before making any decisions.
Catherine Magaña is a CFP® or CERTIFIED FINANCIAL PLANNER TM and Managing Partner at Savvy Women Wealth Management in Carlsbad California.
We run a Savvy Women Wealth Practice in Carlsbad, California offering financial planning and investment advice. Most of our clients are fun, engaging women who are driven to succeed both personally and professionally. They have spent most of their lives focusing on others and realize they must take more responsibility in their financial future. They don’t want to simply be told what to do they want to learn, become more engaged and accountable for their financial future.
If you would like to set up a free 30 minute financial assessment she can be reached at 760-692-5700, info@savvyup.com for private message or click on the following link to contact us directly https://savvyup.com/contact .
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