You may receive your social security benefits for 30+ years, so you want to make sure you make the right decision.
The simplistic answer is that you should wait until age 70 to start taking your Social Security benefits because that is how you will receive the largest monthly payment. However, the easiest answer is not necessarily the right answer for you. A few variables that have an impact on Social Security are: maritial status (past and current), work status, health, family history and other financial resources. When we advise clients, we ask a lot of questions and explore many different scenarios and options.
Social Security related questions are some of the most common that we hear from clients as they approach retirement. This prompted us to create a stand alone service to answer those questions. Social Security optimization allows us to focus in on this one important decision in great detail.