MarketWatch Opinion: When does it make sense to take Social Security at 62?

By: Howard Gold

t’s best to wait until you’re 70 to start taking Social Security retirement benefits — even if it means tapping into your retirement assets at the bottom of a bear market. Why? Because the guaranteed, risk-free 8% annual Social Security benefit increase is an unbeatable deal.

And yet in 2018 only 6% of women and 4% of men waited until they turned 70 to claim benefits. Most advisers and financial columnists wag their fingers at people who take Social Security as soon as they qualify at age 62. 

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About the Author
Surprenant, Beneski & Nunes, P.C. is a premier estate planning and elder law firm serving clients across Southeastern Massachusetts and Cape Cod. With a compassionate and forward-thinking approach, the firm helps individuals and families plan for the future, protect their assets, and support loved ones through every stage of life.