When to take social security
My wife and I are 65 y/o. I am retired from the Chicago Fire Department with a public pension , I don’t have enough SS credits to claim on my own. Cathy has been a nurse for 43 years and is still working part time, but will probably retire before 67. Based on our situation, we were going to wait for Cathy to collect SS at 70 y/o. However now that I’m entitled to 50% of her benefit it seems like we should begin collecting at 67, due to the recoup time for our combined benefit. We are both in good health. Generally speaking what are your thoughts. By the way we love your segment on WGN. Thank you
Terry Says
Don’t take any SS Benefits before full retirement age if you possibly can avoid it! That permanently reduces your benefits.
And don’t guess. Go to www.MaximizeMySocialSecurity.com and pay the $49 to get personalized advice based on your earnings history. That could save you from making an expensive lifetime mistake!
