Written by: Paul B. Murray, CPA/ABV, CFF

With the Baby Boomers approaching retirement age we are often asked when should I start drawing my social security benefits? With most choices in life today this is not a simple question. There are a few overriding, non-financial factors that you should consider first:

  •          Do I like my job and do I want to continue working
  •          Do I have a plan for post-retirement activities to occupy my time (and not drive my spouse crazy!)
  •          When will I die, we can’t help you there but your family medical history may give you some insight
  •          And finally, many clients have paid into the system all of their life and want to draw as soon as possible.

Complicated decision? Yes. We can help. See the links below to help in your decision making. What seems to be true, especially today, GOVERNMENT WEBSITES ARE NOT VERY USER FRIENDLY but this site includes more information then you probably need. The AARP site is much more user friendly. After you have perused the sites call us for assistance.

http://www.ssa.gov/OACT/anypia/anypia.html

http://www.aarp.org/work/social-security/social-security-benefits-calculator/?cmp=RDRCT-SOCI_JUNE15_011