Social Security….When Should You Take It?

Good evening Dolls,

Happy Labor Day to you all!  I hope you had a great time eating plenty and enjoying the day off.  If you are in New York, you probably went to the West Indian Day Parade. It definitely was the perfect weather for it.  I spent my weekend, at a friend’s wedding in Virginia, while visiting family and my son at his campus in Maryland.  I had a fantastic time.😍

Last week, we spoke about the differences between a pension and a 401 K, so it only  seemed right continue discussing retirement funds by going into Social Security.

How Does Social Security Work?🙄

We pay into social security as we work throughout the years.  In order to ensure you have guaranteed benefits when you hit retirement age, you have to work at least 40 quarters, or in plain language, a minimum of 10 years.  Even though this money is backed by the government and is supposed to be guaranteed, you must not depend on this alone.  This is why it is so important to have your other retirement plans in order.

When Should You Start To Take It?🤔

Did you know that you can take social security at 3 different stages of your retirement years?  There is an early retirement age, a full retirement age and a mandatory retirement age.  For example, I can choose to start receiving my social security benefits at age 62 (early retirement benefits), age 67 (full retirement benefits) or 70 (the age you must take social security, if you haven’t already).  Truthfully, there isn’t a generic time to take it.  You should base it on your individual  needs.  Just know if you take it early, you will receive a reduced or cut amount, at full retirement age, you receive 100 percent of your benefits and at 70 you receive more than your full benefit.  When you look at this, you think it’s better to wait, right?  Not necessarily.  If a person is sick and they are age 61, they don’t know if they will live to full retirement age, so they activate it early to receive the benefits.  However, if you’re feeling healthy, you can try to hold out as long as you can.  Speak to your Financial Advisor about what will be best for you when the time comes for you to retire.

Where Can I See My Benefit Amount?🤩

If you want to see how much you will receive with Social Security, go to:

Set up an account and you will be able to see everything you need.  You may also receive a letter every year since the government is starting to send them again.

Remember, you don’t have to be close to retirement in order to prepare for it. Hit the bullseye early so you won’t have to struggle later on🎯

If you have any questions or comments, please feel free to email me at: or post your comments here.

Next Week: Recap of what we’ve gone over so far. A 15.00 gift card will be given to the person who emails the correct answers by the deadline.

Have a beautiful and blessed week everyone!


Changing the lives in our community….one family at a time


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