Summary
Don’t rush to claim your Social Security benefits until you’ve ticked key boxes. The article warns that filing early can lock in lower monthly payments and jeopardise your long-term retirement income. It urges you to ensure you have other income sources, understand how your benefit is calculated, and weigh your life expectancy, health status, and spouse’s situation before filing. Waiting yields higher monthly benefits and more flexibility. In short, claim only when you’re financially ready, not simply because you can.
The Motley Fool
