We get it — it’s tempting to claim Social Security early. After all, so many of us dream of exiting the workforce as soon as possible. But as you may know, claiming benefits as soon as they’re available will result in a lower benefit amount.
But it’s not just about the fact that you could get more benefits by waiting. As pointed out by the Motley Fool by way of Yahoo Finance, you could also be leaving less for your spouse. Especially if you’re the higher earner in the relationship, claiming early could shrink the spousal benefits your partner would be eligible for if you passed.
There’s also the matter of having Medicare premiums deducted from your benefits check. The lower the amount on your check is, the less you’ll have left over.
While some people can benefit from claiming early, most people are better off waiting if they have the ability to do so. Will you delay benefits? What’s your opinion on claiming early?
