While every article about when to start taking Social Security benefits focuses on delaying as long as possible, until age 70, to maximize the monthly payment you receive, there are a few exceptions. As discussed in this article from Financial Planning, “The 1 reason not to delay Social Security,” people who are in poor health or have received a terminal diagnosis have no need to delay.
While the benefit will be less if they file early, the greater number of individual payments will help offset the smaller benefit amount.
There are three ways that women can plan for a better retirement. Women should not rely solely on their spouses when planning for retirement. Instead, they should more directly participate in how they’ll secure their senior years. That’s because many of them are likely to live longer than their partners, according to an article from MarketWatch. Women should calculate the amount of income they anticipate receiving in retirement and consider other income streams.