|Deciding When to Retire|
Choosing when to retire is an important, but personal decision. Regardless of the age you choose to retire, it is a good idea to speak with someone knowledgeable about Social Security retirement benefits.
Social Security no longer discusses your options when it comes to choosing your month of entitlement to retirement benefits. They simply sign you up with the month you request. They assume you have discussed your personal situation and what is best for you with your financial planner or other financial expert.
It may be to your advantage to have your Social Security benefits start in January, even if you do not plan to retire until later in the year. Depending on your earnings and your benefit amount, it may be possible for you to start collecting benefits even though you continue to work. Most people receive the most benefits possible when their application is effective in January. Social Security normally has no retroactivity. You must document your intent to file for benefits before February 1, 2009. You can do this by starting an application online or calling Social Security at 1-800-772-1213.
If you are reaching your full retirement age of 66, you have several options.