Published August 2015
Perhaps that is because there are too many choices.
Should you file as soon as you can, at age 62, or wait until age 70?
Do you collect off your spouse’s coverage or collect on your own?
According to statistics from the Social Security Administration, Social Security benefits make up more than 90% of the income that 23% of married couples may receive, and 46% of non-married individuals.
Perhaps you have some funds set aside. In which case you are both fortunate and were smart.
But it still represents more than half of the income to 53% of marrieds and 74% of non-marrieds.
Clearly, the decisions made about when to start collecting can have a significant impact on how much is received. One important factor in making that decision is your life expectancy. Family history and your lifestyle may have an impact on it. All well and good but you may either still be healthier and outlive your expectancy, or be hit by a bus while crossing a street. We don’t know. (Unless you never go outside that is.)
As someone who will also soon have to make some decisions about collecting Social Security, I have been reading books, taking classes, and have purchased software all with the goal of helping clients with that decision. It is an imperfect science because of the “death” factor being unknown. But using the factors that are known, perhaps it can make the choice a little easier.
Complete the form to the right, and send an inquiry. I will let you know what will be involved and the costs associated with it.
I will try to help remove some of your insecurity.