• Question
  • Retire or not

    Asked by someone from Chicago, IL on 2/1/2014

    If I wait until 65 to file for Social Security and Pension do I stand to lose thousands of dollars during that time period? I was laid off after 39 years 11 months on a job. Thanks

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  • Categories: Delaying Retirement, Work and Retirement

Answers

  • Steve 

    Steve 
    NewRetirement

    San Francisco, CA

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  • Typically the longer you wait to start Social Security or a Pension the higher the monthly benefit since your remaining life expectancy is shorter.

    However - you will have to finance your life from now until you start your benefits. If you can work at another job that is often the best choice.

  • Login to rate this answer:   Answered on 2/28/2014
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.