Timothy Sumer

What is the best age to file for Social Security? What factors should you consider when making the decision to claim your Social Security benefits? It can be confusing and Social Security claiming mistakes are common. GET YOUR OWN PROFESSIONAL Social Security Analysis and Strategy Report: Free Resources University of Holistic Retirement Planning - Online Course Contact Us ... ( read more ) LEARN MORE ABOUT: Retirement Pension Plans REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing What's the Best Age to Claim Social Security: 62, 66, or 70? One of the most important decisions retirees face is determining when to start claiming their Social Security benefits. With various options available, the question arises: what is the best age to claim Social Security? Will you be better off starting at 62, full retirement age (FRA), or at the maximum age of 70? Ma...

Several viewers have recently asked me whether it makes sense to claim social security at 62 if you plan to invest the money. At first, it seems like a solid strategy. While your monthly benefit will be lower, you get years of investment returns you'd otherwise forfeit. It turns out, however, that the issue is a bit more complex. First, depending on your investment returns, claiming social security at 62 may or may not turn out in your favor. The arguably more important issue, however, is taxes. Claiming social security at 62 could affect everything from how much your social security benefits are taxed to IRMAA premiums or ACA credits. It could also affect a Roth conversion strategy. Join the newsletter: ———————————— Video Resources ———————————— Social Security Benefits Calculator: Taxes on SS Benefits: IRMAA Premiums: MAGI for IRMAA: MAGI for ACA Credits: ———————————— Investing Tools ———————————— My Book (Retire Before Mom and Dad): Personal Capital (Investm...