When Should I Start Drawing My Benefits?

Dec 30 2016 - 10:30am

I filed and suspended my SS at 66 currently working but thinking about retiring this summer when I'm 68. Any advice on when I should start taking my benefit?

Thanks,
Frank

Hi Frank,

Your retirement benefit rate will continue to grow by 8% per year until you reach age 70, so as a general rule it's best to wait until then to file if you can afford to. However, you may have other filing options that you aren't aware of, so you may want to consider running the maximization software available on this website in order to explore all of your filing options.

Best, Jerry