written by Conrad Slate

That is one of the most common questions we hear in our planning process.   

The following statements are common when considering the question above: 

  • I looked at my statement and it’s only $XXX monthly difference if I start now.  Why wait longer for that small amount?
  • The earlier I start the more money I’ll receive over my lifetime.  
  • I may die before I reach age XX so I might as well start now. 
  • I’d rather have it now just in case….

When planning on when to take Social Security benefits there are many considerations.  

  • Do you need the income today?  
  • What is your family history when it comes to life expectancy?  
  • How is your health today?  
  • Have you considered the expenses you’ll have in retirement that you don’t have today?  
  • Have you factored in the increased likelihood of higher medical costs in retirement?  
  • Have you considered inflation and the cost of living in retirement?


If you would like to discuss your next steps, we are available.

We can walk you through how to use our software to track your spending and retirement accounts and help you prepare for the future.  Call (865) 357-7370 or email kim@sdp-planning.com to schedule a meeting or discussion.