1. You’re Planning Your End-of-Life Care
The Social Security Administration stops paying your benefits once you pass away, so if your death occurs before you start collecting benefits, you’ll have failed to take advantage of benefits entirely. Instead, you should find ways to maximize your Social Security income. For instance, let’s say you’ve decided to wait until age 70 so you can sign up for larger Social Security benefits.
If you die prior to your 70th birthday, you won’t get any benefits. Yes, it’s impossible to know exactly how long you may live, especially when you’re in good health.
However, if you’re struggling with a serious or terminal illness, delaying monthly retirement payments in order to get greater benefits may not be worth it. Instead, claiming Social Security early in these conditions proves to be a wiser move.
6 thoughts on “Claiming Social Security Early: 8 Reasons Why You Should Do This”
Some basic information that every retiree needs to know in evaluating when to pull the trigger on Social Security Benefits. Thank you.
I looked at what my lifestyle will be when I start my SS. Early I will be more vibrant and able to do things. Also I did the simple math and found I would be pretty old by the time the I caught up with the amount I got while taking the earliest benefits.
We tried but were denied.
If you are 62 or older and have contributed for 10 pr more years you cannot be denied. I worked full-time for 46 years starting at age 16 (yes 16…48 hrs a week at a gas station while in HS) I took early retirement at age 61 in November 2017, And claimed benefits to start in March 2018 when I turned 62. My wife is retiring in April and just recieved her first payment this week and just turned 66 this week. If you were denied you either didn’t have enough credits were not 62 or did something wrong filing. Call Social Security and find out.
Why can a widow not claim her husbands survior benefits if married 38 years if she worked for a City government and she only get $350 and she would receive $1000 on his side which would help her payoff the credit card debt he left her on her card-they say it is because of her City check is a little higher but that should not factor into it – she supported him for 38 years – WHY can’t she not get the beneft to help pay off the credit card?
She can get her social security or his, but not both. So take the larger amount!