Answering These 2 Questions Can Tell You When You Should Sign Up for Social Security

The earliest age at which people are eligible to claim Social Security -- 62 -- remains one of the most popular. Doing so provides them with benefits for the longest possible period, and nets them the largest number of checks. But statistics say that most people would receive the largest possible lifetime benefit by not taking Social Security until they turn 70, when they would qualify for the biggest checks. It's a conundrum for workers: Should they claim early to get the most checks, or should they delay and try to cover their near-term expenses with other funds in the hope of coming out ahead over the long term? Or should they compromise by picking a claiming age in the middle -- perhaps at what the government defines as their full retirement age (FRA)? Your ideal solution will depend on your situation. But answering the two questions below can help you figure it out.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Zum vollständigen Artikel