Cash Flow Planning for Life - Helping you reach your personal & professional financial goals.

Cash Flow Planning for Life

Helping you reach your personal & professional financial goals.

Deciding when to begin receiving social security benefits

This is the 2nd tip in our series entitled “The Nuts & Bolts of Social Security in 7 Easy Tips.”

can be a complex decision that shouldn’t be taken lightly.

Knowing your full retirement age is the first step in the decision process.

Once full retirement age is determined, other parts of the decision process will include the following:

  • Family longevity
  • Your health
  • Current earnings now and in the future
  • Other income for support
  • Will others qualify for benefits on your record

So once you’ve figured out all of these other parts you should be well on your way to figuring out when you should start taking your benefits.

Don’t forget that if you start taking your benefits at age 62, you will be reducing your total benefits.

“The Nuts & Bolts of Social Security in 7 Easy Tips” is also available as a FREE eBook at my website: www.Makara-Assoc.com/ebooks/.

If you have any questions about a when to claim your Social Security Benefits or think I can help you in any other ways, contact me, or give me a call at (239) 384-9688.

– Mark

This information is based on facts, assumptions and representations as stated and authorities that are subject to change. We will not update this information for subsequent legislative or administrative changes of future judicial interpretations.
LEGAL NOTICE AND DISCLAIMER: The information within this blog is for informational and educational purposes only and is not tax advice and should not be used as such. The facts of each individual situation can have significantly different outcomes when applying tax law. The hiring of a CPA is an important decision not to be based solely on advertisements.

1 Response

  1. Your Social Security Planning in 7 Easy To Understand Tips. | Cash Flow Planning for Life Says:

    […] Tip 2 – When Should I Start Taking My S ocial Security Benefits? […]

    Posted on February 16th, 2011 at 11:33 am

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