A common question I hear is: “when should I take Social Security”? This may be one of the biggest decisions you can make. For those born between 1943-1954 full retirement age is 66. It climbs to age 67 for those born between 1955-1959. You can start taking Social Security at age 62 but you will condemn yourself to a 25% reduction in benefits.

Besides waiting to full retirement age to avoid a haircut, waiting can open up a variety of choice for married couples. Your decision is much greater than taking these benefits early or waiting to full retirement age or beyond.

On January 24th Denise Kovach and I will discuss all of the Social Security choices and the impact each can make in your retirement. Go to www.financialgroup.com to make a reservation for our Social Security Seminar.

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