What is the perfect age to start collecting Social Security benefits? It’s a question many seniors struggle with. Claiming early and claiming late both have benefits, the key is figuring out what age is best for you.
Before making this important decision, consider calculating your Social Security break-even age. This is the ideal age at which to apply in order to maximize your benefits. SmartAsset posted a great article on why you may want to calculate your Social Security break-even age before making any critical decisions.
The article explains how the Social Security break-even calculator works and what you should take into consideration when deciding the best age for you to apply. It reminds you that it’s not all about the money. The calculator does not consider your life expectancy and wellness level, cost-of-living adjustments, taxes, or inflation. The break-even calculator also does not factor in additional retirement income such as pensions or 401(k) plans.
The Seniors Trust is working to protect and expand Social Security benefits for American seniors. Our mission is to pass the Social Security Expansion Act, which will secure the long-term solvency of Social Security. It’s crucial that we make sure Social Security is there for today’s seniors and tomorrow’s retirees. They earned it.
Please support this mission by signing The Seniors Trust petition calling on Congress to enact this vital piece of legislation.