8. You’ve Decided To Start a Business
Some folks see their golden years as a wonderful occasion for them to relax, while others think of retirement as a perfect chance to do things they couldn’t do during their working years. So this is why some people decide to start their own businesses in retirement.
For instance, let’s say you’ve made the same decision but you’re afraid that your business won’t generate enough income. So you postponed any business-related plan.
Well, claiming Social Security early could offer you enough income so you can launch your small business. And if everything goes well, the income it generates may be sufficient to balance the future reduction in benefits.
Want to know more about Social Security? Here are 5 Social Security Mistakes That Reduce Your Payments.
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!