Ask Larry

My wife is 62, she is collecting retirement. I'm working and we don't need any addition income. Should she start collecting her social security and invest all money or wait until full retirement age?

Hi. There are too many variables involved for me to be able to give you a definitive answer. However, in most cases, Larry believes that it's unwise to start drawing benefits early with the intent of investing the proceeds. His reasoning is explained in his answer to Michael that can be found on the following website: https://www.pbs.org/newshour/economy/collect-social-security-early-order-invest-benefits.

As I alluded to above, though, the best filing strategy for each person depends on a number of different variables. Your wife should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze all of her options so that she can determine her best strategy for maximizing benefits.

Best, Jerry