According to the latest Fidelity Investments® Social Security IQ Survey, today’s pre-retirees (ages 55-61) are far less inclined to begin taking Social Security benefits at 62, the first year Americans become eligible to apply—a marked contrast to when the survey was last conducted in 2008.
“Deciding when to start taking your Social Security benefits is one of the most important retirement planning decisions we face,” said Ken Hevert, senior vice president of Retirement at Fidelity Investments. “This decision can be challenging and may be dependent upon several factors, including one’s financial situation, health and lifestyle considerations and the needs of your immediate family. However, with some basic guidance and a sound retirement plan in place, it’s much easier to make an informed decision and get the most out of your benefits.”
Hevert discussed with Fox Business what you need to know as you approach retirement age.
Boomer: If I claim my Social Security benefits at age 62, will my benefits increase to my corresponding age as I get older?
