Learn more about
Social Security Maximization
One of the most imperative decisions you can make in regards to your retirement is when to start receiving your Social Security benefit.
There are pros and cons to delaying your benefit, as well as receiving it as soon as you become eligible - at age 62. We can help you navigate this process by showing you precisely what to do, and at what time, to maximize your Social Security Benefit.
Taking benefits at your earliest opportunity
- Pro: Earnings after 62 can still increase your Social Security retirement benefit if they replace $0 or low-earnings years
- But only if it is one of your top 35 years of earnings
- Con: If you take Social Security AND continue to work, your benefits COULD be reduced - $1 of benefits withheld for every $2 earned over the annual limit
- But withheld amounts will be added back to your benefit calculation at full retirement age
Delaying benefits
- Pro: Your benefits could increase, based on your birth date and the number of months you delay the start of your retirement benefits
- But your benefits stop increasing at age 70, whether you’ve started receiving them or not
- But your benefits stop increasing at age 70, whether you’ve started receiving them or not
- Con: As you age, energy and health issues may prevent you from enjoying the additional money you delayed receiving
- But delaying can leave you with more resources later to face expected and unexpected medical expenses
Our team of experts at Titan Insurance can provide a thorough review of your options and help you decide the best approach to maximize your Social Security benefits.
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