When is the best time to start collecting Social Security?

There is no single answer to the question of when is the best time to start collecting Social Security. The decision depends on a variety of factors, including your financial situation, your health, your family's health history, and your plans for retirement. Some people choose to start collecting Social Security as early as possible, at age 62. This can be a good choice if you are in poor health or if you need the income to make ends meet. However, you will receive a smaller monthly payment if you start collecting early. Others choose to wait until they reach full retirement age, which is currently 66. This can be a good choice if you are in good health and you want to maximize your monthly payments. Still others choose to wait even longer, until age 70. This can be a good choice if you have other sources of income during retirement and you want to maximize your Social Security payments. Keep in mind that your payments will increase each year that you delay starting them, up until age 70. Ultimately, the best time to start collecting Social Security is the time that makes the most sense for you and your unique circumstances. Talk to your financial advisor to get more information and help make the best decision for you. #SocialSecurity