Deciding when to take Social Security is one of the most critical financial decisions you’ll face as you approach retirement. Should you claim benefits as soon as you’re eligible at 65 or hold out for the Full Retirement Age of 67? In this episode, we’ll dive deep into the factors that can impact this choice, including health, financial needs, employment status, and long-term retirement goals.

We'll break down the key differences between taking Social Security at 65 versus 67:

• Claiming at 65: Provides immediate income, but with a permanent reduction in monthly benefits. We'll cover how the earnings limit might reduce your benefits further if you’re still working, and how this option could benefit those with immediate financial needs or health concerns.
• Waiting until 67: Offers full benefits with no reductions. Discover how this choice allows for higher lifetime payments, reduces the impact of taxes and earnings limits if you’re still working, and boosts inflation protection over the years with a higher base for future cost-of-living adjustments (COLA).

Join us as we explore these options and discuss essential considerations like longevity, current financial stability, and inflation, helping you make an informed choice that aligns with your unique retirement vision. Whether you're planning ahead or approaching retirement now, this episode will equip you with insights to make the best Social Security decision for your future.