THINKING RETIREMENT – ANDY LANDISJust when I think I’ve heard every bad reason for taking Social Security early, another one pops up. Understand — there are “good” reasons to take Social Security early. “Bad” reasons aren’t supported by the facts. Here are the top five “bad” reasons.

I’ll get more money by taking it early. Are you sure you want to bet on dying young? Do the math. Take Social Security at 66 instead of 62, and you’re money ahead by 78. Take it at 70 and you’re ahead by 82 1/2 — before average life expectancy. Married? Delaying Social Security can mean more money for the longer-living spouse too.

Fact-based approach: See if filing early pays. Estimate your life expectancy at sites like https://livingto100.com/ and http://apps.bluezones.com/vitality/, or view averages on a table. Estimate your Social Security payment at SSA’s website

CLICK HERE to see the the other 4 bad reasons.

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