Before deciding when to begin taking Social Security, consider these factors: Other sources of income. Work with your retirement plan consultant to evaluate the tradeoffs involved in taking your Social Security benefits earlier (and letting other assets grow untouched for a longer period) vs. dipping into retirement assets immediately and deferring your Social Security benefits. … More When should I take Social Security benefits?
“35% of Americans over 65 rely completely on Social Security.” – U.S. Census Bureau (July 2014) Approximately 96 percent of American workers are covered by Social Security, and many more, including non-working spouses, are eligible for payments. In addition, around 40 percent of the average retiree’s income in the United States comes from Social Security. … More Timing is Everything