The Perfect Time to Claim Social Security

Make the choice that’s right for you. Dreamstime/TCABy Sandra Block From Kiplinger’s Personal FinanceIf you’re 62 or older, determining when to claim Social Security benefits is one of the most consequential financial decisions you’ll ever make. The timing can have a profound impact on your retirement income for the rest of your life, as well as the financial security of your spouse. Now, with concerns rising about the looming insolvency of the Social Security trust fund, the decision has become even more unnerving, leading a growing number of people to file early—at a potentially high cost to their long-term financial health.