Money Talk: Social Security as Longevity Insurance
Question: My question is on when to take Social Security. My financial adviser recommends that I file for my benefit at age 66 but suspend the application so my benefit can continue to grow until it maxes out at age 70. At 66, I would receive $2,614 per month. At age 70 I would receive $3,451 per month. In those 48 months I would have received $125,472. I calculate that it would take me 12.49 years to make up the difference of $837 a...
