Ask Larry

When Should I Start Drawing My Benefits?

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

Posted: 
Dec 30 2016 - 10:30am
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.