Choosing the best time to apply for retirement is a difficult task in the United States. There are several options and each of them has its advantages and disadvantages. However, there is one age at which there are far more advantages than disadvantages, especially financially. These kinds of advantages make the golden years much better, so you have to keep them in mind for the future.
So if you’re thinking about applying for Social Security benefits before age 67 you should look at these 3 important reasons to wait a little longer. Everyone wants to have retirement as soon as possible, but you have to know each element in detail in order to get the most out of it all.
If you have already applied for retirement, there is no turning back. And the fact is that the amount of the monthly Social Security check depends on the retirement age at which we apply for it. Still, any advice can be of help, so you may want to know these reasons to wait until age 67 before applying for retirement.
3 REASONS TO APPLY FOR RETIREMENT AT 67 YEARS OF AGE
There are many other reasons to wait until age 67 before applying for Social Security retirement. Similarly, there are also many other reasons to apply for a pensioner’s check at age 62. But it is true that these reasons, those for waiting until age 67, are really important.
The final decision is entirely individual. But it is good to know the advantages of waiting until age 67 before applying for a Social Security check. Once you know the rules, you’ll be able to make up your own mind. Here are the top three reasons to apply for retirement at age 67:
RETIREMENT AND MEDICARE
One of the main reasons is the use of Medicare. Until we are 65 we cannot apply for Medicare enrollment. So if we apply for Medicare before retirement, by the time we reach age 67 we will have gained a lot of health and saved a lot of money.
A BIGGER SOCIAL SECURITY CHECK
Every year that we delay check starting at age 62 makes the amount go a little higher. For that reason, if we wait until age 67, the check will be 100% of the money we have contributed as a worker.
This is a huge positive point about applying for a Social Security check before age 67.
MORE TIME TO SAVE AND PAY OFF DEBTS
Reaching retirement with debt is not something we should do. Remember that your Social Security check will always be less than your salary as a worker. So at age 67 we will be able to be more relaxed, since we will have less debt.
In addition to that, we will have had more time to save. This means that our savings will be greater and, therefore, the amount of the Social Security check will not be as important.
Even so, remember that each citizen must choose the retirement age they prefer. Of course, after the age of 70 there are no extra benefits, so it is not advisable to wait beyond that age.