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Social Security Age: How to Prepare

Social Security is a program that helps seniors after retirement.  Understanding the best Social Security age for you is crucial when it comes to taking the step of filing for your benefits.

Filing early

It is extremely important to figure out the right age to file for your Social Security benefits. There are pros and cons to claiming earlier and to claiming later. You can first collect benefits at 62, and there are many who do this because they feel like they need to and have no other financial choices. According to Voya Financial, about 60 percent of seniors are forced into retirement earlier than they planned. This can change your retirement plans and leave you with few options.

Another problem facing seniors is that they get to their retirement age and do not have any kind of savings built up. The people who are forced to file earlier than they planned need more money from Social Security in the long run.

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Avoiding the traps

If you are trying to stretch your Social Security benefits as far as they can go, it is important to work on putting money aside before you retire. In addition to using your benefits, you will also have your savings to keep you afloat. Putting aside an amount that you are comfortable with can give you a nice cushion to fall on if you are forced into retirement earlier than planned.

Collecting Social Security benefits at 62 does not always have to be out of desperation to get by. If you find this to be the case for you, it is okay! You deserve to enjoy your time that you worked towards while still working.

Preparing for retirement earlier in life will help to avoid doing anything out of desperation, and that is the goal. You should be able to enjoy your retirement without the worry of running out of money.

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