Before jumping into our discussion, it’s important to note that the social security program is complicated. It’s not as straight forward and easy to understand as some people may believe. There are things you need to think about before signing up for the benefits.
The choice of whether to delay taking Social Security benefits or start as soon as you are eligible is a hot-button topic and a question we are asked often. As with all things in financial planning, the answer to this question is it depends.
How much can you expect to receive in your social security benefits checks in the future? Here’s a basic look at how the SSA configures what your social security payments will be when you elect to start receiving benefits.