When Is Right for You?
Determining your “best time” to collect is not necessarily easy. When the only benefit to which you are entitled is your own, the decision-making process is fairly straightforward. Consider your life expectancy and financial needs, talk with your financial professional and go from there.
But — are you married currently? Have you been married before? Do you have children? The answers to these questions and more can have a meaningful impact on your collection strategy. I’ll tackle each in future posts.
Until then, I invite you to visit our online Retirement Center, where you can find more information on Social Security and other topics to help boost your retirement readiness.
Sources: BlackRock; Social Security Administration. Please see the Social Security Administration’s website at www.ssa.gov for more information, restrictions and limitations about Social Security benefits.
Rob Kron, Managing Director, is the head of Investment and Retirement Education for BlackRock’s U.S. Wealth Advisory group. He is the newest contributor to The Blog and provides practical information on topics that are important to every saver and investor of every age. You can find more from Rob here.
This material is provided for educational purposes only and does not constitute investment advice. The information contained herein is based on current tax laws, which may change in the future. BlackRock cannot be held responsible for any direct or incidental loss resulting from applying any of the information provided in this publication or from any other source mentioned. The information provided in these materials does not constitute any legal, tax or accounting advice. Please consult with a qualified professional for this type of advice.