Most people think they need to start collecting social security benefits as soon as they turn 62. However, this may not be the best decision for you. In fact, there are a lot of factors to consider when it comes to deciding when to start collecting social security benefits.
One thing to keep in mind is that the amount you receive in benefits will be based on how long you live. The longer you live, the more money you will receive in benefits. So, if you think you may have a long life expectancy, it might make sense to wait and collect larger payments later on.
Another thing to consider is whether you need the money right now. If you are in good health and have other sources of income, it might make sense to wait a while before starting to collect benefits. This way, you can maximize the amount of money you receive over the course of your lifetime.
Ultimately, there is no one-size-fits-all answer when it comes to deciding when to start collecting social security benefits. However, by considering all of your options and making an informed decision, you can ensure that you get the most out of this important benefit.
