August 27th, 2012|
August 27, 2012
Most articles from financial experts will tell you to delay collecting Social Security as long as you can–to wait until your full retirement age or beyond because then your monthly benefits will be increased. But this article from the Huffington Post tells you that there are some legitimate reasons why you may want to collect your Social Security benefits as soon as you can.
These reasons include:
(1) You may simply need the money. You may not be able to afford to wait. You may need the money to pay your rent and buy groceries. “You earned it; you need it; and it is available,” said Tom Sightings. As a matter of fact, the majority of Social Security recipients do start drawing before their full retirement age.
(2) You may be in poor health. The life expectancy for the average person is now about 84, but if you have high blood pressure, high cholesterol, diabetes, etc., you may not live to be in your 80s and 90s. So it may make sense to begin collecting your Social Security as soon as possible.
On Wednesday, our blog will outline for you the other two reasons that you may want to consider before deciding when to take your Social Security.
If you or someone you know needs help with SSD benefits, contact the disability lawyers at Fleschner, Stark, Tanoos & Newlin.