Social Security is one of the largest assets for most retirees, but very few understand its basic rules. About a third of all people claim social security at age 62, but there are many benefits that are left on the table, especially for married couples.
Below is a link to a comprehensive article regarding the basics of social security. The article was written in 2010; therefore, some of the tax numbers are incorrect, but the overall rules for social security have not changed.
While this is a good place to start, your entire financial situation needs to be taken into account when deciding which social security option is best for you.
A financial planner can analyze all of your retirement options to develop an overall strategy that optimizes your retirement income.
Other Helpful Posts on Social Security
What You Need to Know About Social Security ‘File-and-Suspend’ Changes
Tax Planning and Social Security
Looking for Social Security Advice? Pass the Salt…
Determining the Taxable Amount of your Social Security
Social Security at 62, 66, or 70? How do you decide?
