Retirement Income Solutions

Determining when to take Social Security benefits is a complicated financial decision. Here are a few things to think about and discuss with your financial professional.

How long do you think you will live? If you have a family history that suggests you might live into your 90s, you may want to consider claiming Social Security later. If you start receiving Social Security benefits at or after full retirement age (FRA, which varies from age 66 to 67 for those born in 1943 or later), your monthly benefit will be larger than if you had claimed at 62.¹

What fits best with your financial strategy – more lifetime payments that are smaller versus fewer lifetime payments that are larger? For the record, Social Security’s actuaries project that the average 65-year-old man will live to 84.0 years, and the average 65-year-old woman, 86.5 years.²  Read more about Before You Claim Social Security …