When Should You Take Social Security?

In this episode of Financial Decoder, host Mark Riepe analyzes among the most important retirement choices: When should you take Social Security? When you declare too early, your advantages are decreased, and yet a large portion of individuals declare at the earliest possible age. What's driving this choice? Mark takes a look at three mental phenomena that could impact the decision: loss aversion, present predisposition and recommendation points.

Joining Mark in the discussion is Rob Williams (), Vice President of Financial Planning, Earnings Planning and Wealth Management.

Much of the rules and reports that Mark and Rob go over can be

discovered on the website of the Social Security Administration ().

The 2017 Yearly Analytical Supplement to the Social Security Bulletin () shows that 30% of Americans declare advantages at the earliest possible age– 62. Here's why much of them regret it. ()

The link between earnings and wealth and longevity was studied by scientists at the Urban Institute in this 2015 report ().

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Important Disclosures:

The information supplied here is for basic educational purposes just and must not be considered an individualized suggestion or tailored financial investment recommendations. The investment techniques discussed here might not be suitable for everybody. Each investor needs to evaluate a financial investment method for his or her own particular situation before making any financial investment decision.

All expressions of opinion undergo change without notice in response to shifting market conditions. Data contained herein from third-party service providers is gotten from what are considered dependable sources. However, its accuracy, efficiency or reliability can not be guaranteed.

Examples supplied are for illustrative purposes just and not intended to be reflective of outcomes you can expect to achieve.

Investing includes threat, including loss of principal.

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When Should You Take Social Security?

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