As you approach retirement, one of the biggest financial decisions you’ll need to make is when to begin receiving your Social Security benefits. Should you begin receiving a smaller Social Security benefit early, or should you wait until full retirement age, or even longer, to receive a larger benefit?
There’s no ‘’one-size-fits-all” answer; when to begin receiving Social Security benefits depends on your personal circumstances, and there are many variables.
How much will you receive from Social Security?
How long will retirement last?
Do you plan to keep working after you begin receiving your Social Security benefits?
What about taxes?
What’s the effect on your overall retirement income plan?
How will your spouse be affected?
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