Deciding When to Take Social Security Benefits

Distilling down the core components of the Social Security program to understand when, how, and why to start drawing benefits

• FORMULA: How the Social Security Administration calculates benefits at various ages (and how you can influence yours to be higher)
• EARNINGS TEST: Why your decision to take benefits may be affected if you are still working (and how other income is treated)
• SPECIAL GROUPS: Who may have special rules to follow (and how their benefits may be lowered)
• CONSIDERATIONS: What other factors must be considered when making the decision to start taking benefits (and what happens if you change your mind!)