Claiming Benefits Too Early?
Starting retirement benefits at age 62 means receiving payments sooner, but it generally results in a lower monthly benefit than waiting. Compare claiming ages in the context of your needs before making a decision.
Still Working Before Full Retirement Age?
You can work while collecting Social Security. If you claim before full retirement age, however, earnings above the applicable annual limit may cause some benefits to be withheld. Richard can help you consider how work and claiming timing fit together.
Planning With a Spouse?
Your claiming decision may affect more than your own monthly payment. Reviewing both spouses’ benefit records and potential spousal or survivor benefits can help you understand your household’s options.
How Does Social Security Fit Your Income Plan?
Social Security is one part of retirement income. Compare your expected benefit with your anticipated expenses and income from pensions, retirement accounts, savings, and other sources to see how the pieces may work together.
The best age depends on your circumstances. Claiming as early as 62 gives you payments sooner but reduces your monthly benefit. Waiting can increase your own monthly retirement benefit up to age 70. Compare the amounts with your income needs, health, and other resources before deciding.
Yes. If you receive retirement benefits before full retirement age, earnings above the annual limit may cause Social Security to withhold some benefits. Beginning with the month you reach full retirement age, your earnings no longer reduce your Social Security benefits under that rule.
Start by estimating your monthly expenses and reviewing your expected Social Security benefit at different claiming ages. Then compare that income with pensions, retirement accounts, savings, and any continued earnings. This helps you see the gap your broader retirement income plan needs to cover.
Yes. Each spouse’s claiming decision can affect the household’s income, and spousal or survivor benefits may also matter. The rules depend on your eligibility and circumstances, so review both benefit records before making a decision.
