The Best Reason to Claim Social Security Early During the 2020 Recession
The choice of when to claim Social Security benefits is an important one that can profoundly impact your financial security in retirement. While there are many different considerations that go into a claiming strategy, the data is clear that more people tend to start their benefits during recessions.
And that makes a lot of sense. When the economy is doing poorly, people lose their jobs and are forced into starting their benefits (if they're 62 or older and meet the necessary eligibility requirements).
Claiming Social Security during a recession isn't always the right choice. There is, however, one situation where starting your benefits virtually always makes sense -- and if you find yourself in that position, you should strongly consider signing up to get your Social Security checks ASAP.
Source Fool.com
