• CMG MORTGAGE, INC. NMLS #1820
  • Doug Luza
  • News
  • Why it might be better to take Social Security at age 66 instead of 70

Why it might be better to take Social Security at age 66 instead of 70

  • October 30, 2018

CMG Image

Conventional wisdom about Social Security bites the dust—again.

As you undoubtedly already are well aware, most financial planners recommend that—so long as you can afford to do so—you should wait until age 70 to begin receiving your Social Security benefits. Your monthly payment in such an event will be 32% higher than if you begin receiving benefits at age 66. So long as you live to your early 80s, those higher monthly payments should make up for the foregone income over the four years from age 66 to 70.

A few months ago, you may recall, I presented one argument for why conventional wisdom could be wrong. In this column I present another.

 

Read more at MarketWatch.com.

Doug Luza
Branch Manager
NMLS # 311377
Branch NMLS # 1198991


Doug Luza

PHONE: (832) 575-2210
dluza@cmgfi.com

APPLY NOW
CMG Image
© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender with corporate office located at 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 888-264-4663. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Illinois Residential Mortgage Licensee; Kansas Licensed Mortgage Company #MC.0001160; Massachusetts Mortgage Lender License #MC1820 and Mortgage Broker License #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; and Licensed by the Virginia State Corporation Commission #MC-5521. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. For information about our company, please visit us at www.cmgfi.com. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and NMLS Consumer Access (www.nmlsconsumeraccess.org).