When to Start Receiving Social Security Retirement Benefits
One of the most common questions people ask about Social Security is “What is the best age to start receiving retirement benefits?” Unfortunately, there is not a cut-and-dry answer. Individuals should consider a number of factors, including personal preferences and the eroding financial stability of the Social Security program, when making this important decision.
According to research by the Insured Retirement Institute, published in 2010, half of retirees start claiming their benefits as soon as they become eligible, at age 62. However, waiting until a more advanced age can significantly increase individual benefit amounts. The U.S. Social Security Administration offers the When To Start Receiving Benefits interactive tool to help Americans make informed decisions that reflect their personal needs and interests.
Click here to access the When To Start Receiving Retirement Benefits tool.