My Mom Wants to Cancel Her Social Security Payments. Is Waiting Until 65 Worth It?
As always, The Motley Fool cannot and does not provide personalized investing or financial advice. This information is for informational and educational purposes only and is not a substitute for professional financial advice. Always seek the guidance of a qualified financial advisor for any questions regarding your personal financial situation. If you'd like to submit your question for feedback, you can do so here.One of the most important decisions you'll make regarding your Social Security benefits is when to sign up. It sounds simple in theory: Just wait until you're at least 62 and feel ready to receive checks.But there's actually a lot of strategy in choosing your claiming age, because it directly affects the size of your checks. Undoing a Social Security application is complicated, so you need to clearly understand the consequences of your choice.Continue reading
As always, The Motley Fool cannot and does not provide personalized investing or financial advice. This information is for informational and educational purposes only and is not a substitute for professional financial advice. Always seek the guidance of a qualified financial advisor for any questions regarding your personal financial situation. If you'd like to submit your question for feedback, you can do so here.
One of the most important decisions you'll make regarding your Social Security benefits is when to sign up. It sounds simple in theory: Just wait until you're at least 62 and feel ready to receive checks.
But there's actually a lot of strategy in choosing your claiming age, because it directly affects the size of your checks. Undoing a Social Security application is complicated, so you need to clearly understand the consequences of your choice.
