A Guide to Starting Social Security Benefits
Richard L. Kaplan
University of Illinois College of Law
July 31, 2008
Journal of Retirement Planning, July-August 2008
U Illinois Law & Economics Research Paper No. LE08-025
When a person should begin taking Social Security retirement benefits is a critical question for planning one's retirement. This article explains the various factors at play in determining the optimum starting point, including: longevity considerations; spousal implications, whether for a previously employed or a previously unemployed spouse; the impact of post-retirement employment; the availability of health insurance prior to Medicare eligibility for the worker and the worker's spouse; alternative sources of retirement income, including distributions from retirement savings plan assets and lifetime liquidation of nonretirement assets (and the pertinent income tax ramifications); and anticipated investment strategies.
Number of Pages in PDF File: 9
JEL Classification: G23, G29, J26
Date posted: August 4, 2008
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