January 14, 2016
Quick. At what age should you start collecting Social Security?
It’s not an easy question to answer, right?
Fortunately, the Consumer Financial Protection Bureau recently put out a calculator that helps you decide.
The tool allows you to explore how your claiming age impacts your retirement benefits. It also offers customized tips and provides next steps – somewhat of a guide for claiming Social Security.
Of course, when to claim Social Security is one of the biggest decisions many of us will make about retirement.
Indeed, claiming benefits is a one-time thing. Once you claim, there’s no turning back. That makes it crucial to carefully, and accurately, weigh your options.
“We want consumers to use our tool to know and understand what it means to claim at their full retirement age vs. several years before and several years after,” Richard Cordray, director of the Consumer Financial Protection Bureau, told USA Today.
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