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The BEST Age to File for Social Security

If you're wondering what the best ages file for Social Security you come to the right spot I'm going to give you a few things to think about that no one else i'm trying to figure out when you should file for Social Security perplexes a lot of people there that suggest everyone should talk early and there's other data that suggest everyone should fall later and it just one question that I'm asked if you look at what Americans file for Social Security they haven't gotten this figured out yet 12% call 62 year olds let's go back and look at reduces or increases your benefit amount at 62 going to get less around 70% you'll get slightly more than 8% per year all the way up until 870 earliest age possible instead of a larger reward later it's closer imagine you are offered $50 today or $60 they get the surveys they found it most individuals would say I want my $50 now thank you because it may not be there however when they changed the question and said would you rather have $50 in a year or $60 johnny gets very easy to observe in General Retirement planning you can build the perfect retirement income plan for someone that had that date gets closer things start to getting closer so that we can make decisions based on the facts travel to it over and get you to make a decision at the earliest age possible now that you understand that you may have his predisposition to file arm yourself with the facts you should file use a break-even analysis figuring out when you should file for sure this was the accepted method of determining when you should buy like that website thankfully they take that down you can see that there is a point where those two lines intersect and that's it about 878 67 breakeven analysis answers analysis to determine what your filing strategy should be also a very important question what if I live longer than expected i'm advising clients on Social Security strategy there are 12 factors that we include to determine what the right strategy should be the first is gender and marital status of statuses can I help you make the right decision elf there's a lot of research adjust filing later is the best option now some articles and research even go so far as to say it's always the best option so let's take a look at some Square it's in your favor. Situations where it's in your favor. The first thing I want you to keep in mind social Security earnings limit to come into play while drawing Social Security play that goes away completely and you make above $17,000 falling shouldn't even be an option so lost your job or saw the factor if I get some deficit is coming from a disability I want to consider filing for Social Security disability 70% it's going to be one hundred percent minor or disabled children at home or they are eligible and when combined with your own benefit benefit the benefits to your children and your eligible spouse be up to 180% there's no way you could ever catch up or later and then filing you will have missed too many third option is if you're the Lord and your spouse is in poor health your spouse is Survivor benefits down the road but if there's a terminal illness this is something you need to plan for here's the way this works if your spouse had higher earnings that you most likely if they dye their benefit will become your benefit and all the delaying that you may or may not have done on your own benefit. Consideration is if your spouse has the lower honor and older than you and they're all benefit is not as high as the amount they can receive as a spousal benefit it could make sense to file that's opening your work record up to pay a spousal benefits strategy could make more sense than delaying your own benefit and V consideration for filing a survivor benefits and your own benefits apply to you how much later will that is subjective it it may be off things to think about make sense 4 minute that you heard about an income-producing investment I have a deal for you if you just delay for 8 years they'll increase your lifetime benefit payment 7% you know the truth isn't it by the time we got out on an investment vehicle set your spouse to live longer I need to go at 5 is often quoted at the rationale for folic at 62 people in my office and usually it's the men in my office that are saying that laying your falling how to reduce your taxes in retirement eBenefits 85% of your benefit of the strategy letting your social security benefit increase if you want some more information on that your account should be able to help you figure does that make sense to you that one thing that's clear there's no one-size-fits-all for Social Security filing find a good quality financial planner unfortunately it can be difficult it's not as simple as finding someone with a certain degree find out if your financial planner is passionate enough about this there's only one way to do that you going to have to ask a lot of questions so here's a few questions that I would get started if they say nothing that will charge you an hourly fee for this kind of help because there's an investment pitch tied to it are some additional questions I should ask you what your birthday explain provisional income in your search you're going to find the help you need sS your retirement so take charge call Jeff Davis 

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