How to Calculate Your Social Security Break-Even Age
You have an eight-year window to start taking Social Security. When is the best time for you?
This story originally appeared on SmartAsset.
Deciding when to take Social Security retirement benefits is important because it can directly affect your benefit amount.
While you can technically start taking benefits as early as 62, you’d receive them at a reduced amount. On the other hand, you could delay taking benefits up to age 70.
Calculating your Social Security break-even age can help you decide when the best time is to begin taking benefits. You can do that using a Social Security break-even calculator.