Determining when to take your Social Security may be one of the most impactful decisions you choose when it comes to your retirement. There are several factors that you should consider when determining the best time to take your own Social Security and one strategy you may want to implement – the bridge method.
Factors To Consider For Social Security
When you’re trying to determine when the best time to take your own Social Security might be, there are several factors to take into account – from your potential life expectancy, to your investments and income, to your family structure. Each of these factors plays a role in the timing of your retirement and Social Security. For example, if you have a family history of longevity, you may feel more comfortable delaying Social Security. If you’re currently working and bringing in income, you may wish to delay your Social Security due to potential tax implications. You expenses and investments certainly play a role in when you want to take your benefits, as does the structure of your family and if you have a spouse, when they may take their own befits.
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