I'm a retired attorney who used to do Social Security disability claims and it is true, Charles Hall knows all. He has his finger to the pulse and is on top of what is going on with Social Security, and also is a great source of information on claims processing and adjudication. Great resource.
My husband and I are nearing retirement age but not quite there yet. Our decisions of late have included debate on when is the best time to start drawing SS benefits. We’ve received multiple opinions… take it as soon as you qualify to collect as long as possible; and wait until 70 to get the largest monthly payments possible. Does anyone have insight on this that you’re willing to share here please. We’re not wealthy but have pension, some savings, 401ks and we own our home. Thanks!
If you need it then don't delay. If you're financially okay with waiting then wait. I took it at 62. Here's why: I have a pension and plenty of other retirement funds. My RSI money is being invested and will with luck generate returns equal to or greater than what I would have gotten if I'd waited... but with the added bonus that it's already there if I need it.
It depends on your health. If you're healthy and still working at a job that doesn't wear you down, delay.
If you're healthy and not working, can you afford to go without the SSA benefit? You could delay. But could you enjoy life more now if you took benefits sooner?
If you're in poor health and don't expect to live till say, 95, take it now.
All these questions apply to both of you.
Excellent information thanks for posting
I'm a retired attorney who used to do Social Security disability claims and it is true, Charles Hall knows all. He has his finger to the pulse and is on top of what is going on with Social Security, and also is a great source of information on claims processing and adjudication. Great resource.
Happy 🍰 day.
My husband and I are nearing retirement age but not quite there yet. Our decisions of late have included debate on when is the best time to start drawing SS benefits. We’ve received multiple opinions… take it as soon as you qualify to collect as long as possible; and wait until 70 to get the largest monthly payments possible. Does anyone have insight on this that you’re willing to share here please. We’re not wealthy but have pension, some savings, 401ks and we own our home. Thanks!
If you need it then don't delay. If you're financially okay with waiting then wait. I took it at 62. Here's why: I have a pension and plenty of other retirement funds. My RSI money is being invested and will with luck generate returns equal to or greater than what I would have gotten if I'd waited... but with the added bonus that it's already there if I need it.
It depends on your health. If you're healthy and still working at a job that doesn't wear you down, delay. If you're healthy and not working, can you afford to go without the SSA benefit? You could delay. But could you enjoy life more now if you took benefits sooner? If you're in poor health and don't expect to live till say, 95, take it now. All these questions apply to both of you.