You may not have thought much about when you should begin receiving your Social Security benefits. However, this decision could be one of the most important decisions you make for your retirement.
The average household receives approximately $601,000 in Social Security benefits during their retirement (Source: Social Security and Medicare Taxes and Benefits Over a Lifetime from the Urban Institute, 2012). By taking benefits at the wrong time, retirees could lose more than $100,000 from their retirement.
If you would like to take a quick look at your own Social Security timing, click the link below to see how the timing of your Social Security benefit may benefit you, or cost you, thousands of dollars over your lifetime.