Struggling With That Big Social Security Decision? Ask Yourself These 3 Questions to Figure Out When to File
Chances are, you'll rely on Social Security to some extent in retirement. You may even wind up depending on those benefits for the bulk of your income. As such, it's crucial that you file for Social Security at the right age because it will dictate how much money you'll receive on a monthly basis.
If you're deep in the throes of that tough decision right now, you're probably not alone. But it's not an easy decision to make, so here are a few key questions that'll help you make the right choice.
You're allowed to start collecting Social Security as early as age 62, and while the Social Security Administration won't force you to file for benefits at age 70, that's generally considered the latest age to sign up since there's no financial incentive to wait past that point. Smack in the middle of that time frame is full retirement age, or FRA. That age isn't universal -- it's a factor of when you were born, as per the following table:
Source Fool.com
