Usually your retirement advisor tells you to wait to collect your social security. Troy Sharp of Oak Harvest Financial Group and host of KTRH’s Retirement Rescue says if you wait until you’re at full social security collection age, your income will grow 6% every year between your 62nd and 66th or 67th birthdays.
But Sharpe agrees with these three reason NOT to wait.
- “Your health is not good. You’ll need to collect and save your social security early to have it later when your illness may become worse and more expensive to treat.”
- “You thought you were going to work till you were 70 – but you were laid off or made to retire.” He says this is becoming more and more common in Houston.
- “You are depending to on your social security to pay for your retirement. You can invest your social security so it grows and grows until you retire.”
Photo idea --- you know, one of those lovely pictures of a man and wife with gray hair golfing….