Social Security - when to take itBy Mark Najarian

Money and Markets

July 18, 2016 – After you reach a certain age, somehow the Internet knows. Your news feeds start piling up with retirement-related articles. And your spam box seems to be filled with come-ons about pensions, annuities, Canadian Social Security schemes, etc.

I am noticing a lot more stories recently about Social Security. And though I have a few years before I am eligible, I’m close enough to start thinking about three key issues:

At what age to start claiming it;

Whether it will still be there when I request it;

And, regardless of Social Security, how much does one need to live on in retirement?

As for the future of the program, the Social Security Administration itself admits it will eventually run low. According to the SSA’s website, it calculates that by 2034, if changes are not made, it will only have enough to pay 79% of its overall costs.

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