Determining when to begin receiving Social Security
Abstract: When to begin receiving Social Security benefits depends on each person’s individual circumstances. Estate planning also factors into the equation. For example, the amount of funds that a couple needs to continue their desired lifestyle during retirement will affect the amount of wealth they ultimately are able to pass on to their heirs. This article shows how to determine a break-even point — the age at which the dollar value of more (but smaller) payments roughly equals the value of fewer (but larger) payments. It also notes the consequences of drawing early Social Security benefits while still working.