If you’ve been working and paying into Social Security, you may be eager to sign up for benefits. However, choosing the right filing age is crucial to maximize your monthly checks. Here are three signs that indicate you’re not ready to file for Social Security just yet.
If you’re unsure about your monthly benefit or don’t know how much money you’ll need in retirement, it’s essential to delay claiming benefits. You can estimate your benefits on the Social Security Administration’s website and ensure your earnings record is accurate.
Another crucial factor is understanding your annual retirement expenses. Knowing what you’ll spend on essentials like housing, transportation, food, utilities, and healthcare will help you decide whether to claim benefits early or late.
Lastly, consider how much income your nest egg will provide. If you expect to live off Social Security and savings, calculate the withdrawal rate and see how much annual income it results in. This will help you determine if claiming benefits at full retirement age is right for you.
Before making a decision, take the time to understand these factors and ensure you’re making an informed choice about your Social Security benefits.
Source: https://eu.usatoday.com/story/money/personalfinance/retirement/2025/06/05/signs-youre-not-ready-social-security/84044791007