If your client is like most, they have no doubt been looking forward to retirement, and to collecting on the Social Security benefits due them. After all, they’ve put a lot of money into the Social Security kitty over the years, and its time there was a little payback.
But is it really? Is your client wise to start collecting on Social Security at the first opportunity? How early is too early? Should they wait to full retirement age? Or should they delay those benefits a few years into retirement? The correct answer depends on a lot of factors, including whether your client or a spouse are currently employed, whether they have a pressing financial hardship, what their health profile and medical history looks like, and what tax bracket they fall into.
(Read my complete article at Think Advisor)
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