As you transition into retirement, you’ll face a number of big decisions. One of the biggest will be when and how to file for Social Security benefits. It’s an important decision, as Social Security may play a large role in your retirement income plans.
Social Security is likely to play a large role in your retirement. After all, it’s a valuable resource that can provide base of guaranteed lifetime income. However, as helpful as Social Security may be, you probably don’t want to rely on it as your primary source of income.
The question of when to file for Social Security retirement benefits often creates a tough dilemma for retirees. Many people choose to file for their benefits as soon as they become eligible. Others prefer to delay filing as long as possible.