Maximize Social Security: When to Claim
Update: 2025-12-05
Description
Exploring Social Security Benefits: When to Claim for Maximum ImpactThis episode delves into the strategic decision of when to start claiming Social Security benefits, which can significantly impact your retirement income. While you can begin as early as sixty-two, waiting until seventy can maximize your monthly payments. The choice of claiming age is a crucial part of retirement planning. For instance, Jose, born in nineteen sixty-four, would receive around $1,513 per month if he claims at sixty-two, $2,288 at sixty-seven, and nearly $3,000 at seventy. The optimal claiming time depends on your personal financial situation and life expectancy. Having multiple income sources in your sixties provides more flexibility in this decision.
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