When Should You Start Receiving Social Security Benefits?
The decision whether to start receiving Social Security benefits at age 62 or wait until later needs to be weighed carefully as the amount of your Social Security benefits will be affected by when you choose to start receiving them.
The amount of your Social Security benefits increases every year you wait to start receiving them until age 70. A variety of factors should be taken into consideration, such as your current and future financial needs, whether you plan to continue working, what other sources of retirement income you have and the amount of your current Social Security benefit.
The right time to start receiving Social Security benefits varies from person to person, so it is important that you consider all the relevant factors which affect you so that you can make the right decision for you and your family. The Social Security Administration has resources available on its website which can help you estimate your benefits and life expectancy.
If you are considering whether or not it is the right time to start receiving Social Security benefits, call one of our experienced professionals today at 978-452-2500 and let our team of advisors help you make an informed decision so that you can feel confident in your decision and financial future.
Anstiss & Co. is a Lowell- based public accounting firm serving clients throughout the United States. The firm was founded by Ray Anstiss, Sr. in 1964, and is currently listed as a Top-35 Accounting Firm in Massachusetts by the Boston Business Journal.
