Full question: Hi Martha. I turn 65 this year, the same year Social Security turns 90 and I’m getting ready to file for benefits. I’ve done some reading, but I still feel unsure about what I need to consider before applying. What should I keep in mind to make sure I’m making the right decisions?

Hello,

If you are married, widowed, or divorced, you will want to understand the effect these will have on your benefits.

The amounts you receive from all benefits vary with the ages that you collect them, so understanding these numbers will help you make the best claiming decision.

If you plan to continue to work while collecting benefits while younger than your FRA of 67, some amounts may be withheld during those years due to the retirement earnings test.

The last item you should consider is if you have financial resources to use to cover an income gap if you quit working but want to wait to claim at a later date.

An RSSA can help you make a plan by considering all these questions and more.

Warmly,
Martha

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