Planning for Social Security
The decision around when to begin taking Social Security is a key factor – but there are other important factors to consider.
- Your health and life expectancy
- Your spouse’s or ex-spouse’s benefit
- Whether or not you plan to work after age 62
- Your taxable income or other income sources in retirement
Understand your options
Most Americans consider Social Security benefits to be a significant source of reliable income in retirement. Deciding how and when to start drawing benefits will have a significant impact on your income, and thus your lifestyle in retirement, so it’s especially important to understand the options available to you.