Monday, January 27, 2014
If you were to take Social Security early at age 62, you would only receive around 75% of your monthly benefit. However, sometimes circumstances exist where it might be better to not delay and take Social Security income earlier. Here are six reasons why:
- It’s taking you a while to find full time employment.
- You work part time.
- You want the funds to go to a beneficiary.
- You want to invest the funds in something else.
- You don’t need to maximize the Social Security income of your spouse.
- You have a short life expectancy.
See Nancy Anderson, When It Makes Sense to Take Social Security Income at 62, Forbes, Jan. 24, 2014.