3 Signs You're Ready to Claim Social Security
Signing up for Social Security is not a decision to take lightly. Those benefits will most likely end up playing a crucial role in helping you finance your retirement, so it's important to claim them at just the right time.
Of course, there's no such thing as a universal right or wrong age to file for benefits. The key, rather, is to make sure that by the time you're ready to sign up, you're equipped with the right information. Here are a few signs that you're in a good place to make that call.
Your Social Security benefits are calculated by taking your average monthly wage, adjusted for inflation, over your 35 highest-paid years in the workforce, and then inputting that figure into a special formula to determine your monthly benefit. You can begin collecting that full benefit once you reach full retirement age, or FRA.
Source Fool.com
