When Should I Take Social Security?

Understanding when to take your Social Security benefit is one of the most sought after answers when trying to maximize your retirement income.  The majority of Social Security benefit recipients are better off by waiting to take their Social Security income until they reach their Full Retirement Age (FRA).  However, it is critical to analyze all factors before making any decisions in order to avoid making a decision that cannot be changed.

If you take your Social Security benefit before your full retirement age you will permanently reduce your benefit, and if married, permanently reduce your spousal benefit.  While this is one of the hardest questions to answer we use a five-step process to help you with your decision.  We will help you understand the Social Security rules and how to answer the following questions.

1)  Can you afford to delay benefits?
2)  What is your life expectancy?
3)  How will taxes impact your Social Security?
4)  Are maximization strategies right for you and/or your spouse?
5)  What impact will your Social Security decisions have on your retirement income today?

Securities and advisory services offered through Cetera Advisors LLC, member FINRA, SIPC, a broker/dealer and Registered Investment Adviser. Cetera is under separate ownership from any other named entity.

Individuals affiliated with this broker/dealer firm are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.

This site is published for residents of the United States only. Financial Advisors of Cetera Advisors LLC, may only conduct business with residents of the states and/or jurisdictions in which they are properly registered. Not all of the products and services referenced on this site may be available in every state and through every advisor listed. For additional information please contact the advisor(s) listed on the site, visit the Cetera Advisors LLC site at www.ceteraadvisors.com.

Our Office of Supervisory Jurisdiction is located at:

137 Wilber Dr. NW, North Canton, OH 44720

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