Read More

Wondering If You'll Have Enough Money to Retire?

As you approach retirement, you might be asking yourself if you’ve saved enough to retire comfortably.

There are so many variables, from your age and how much you’ve saved, to your household expenses and plans for retirement.

While these are all big pieces of the puzzle, there's another one to consider: Social Security. Many people don’t know exactly how much Social Security they’ll receive. Some even doubt if the government will be able to keep paying it long-term.

That’s why it’s important to understand your options and learn how Social Security fits with everything else, so you can feel more confident about retiring.

When should I start taking Social Security?

One of the most critical steps in claiming Social Security is deciding when to start your benefits. In this clip from Financial Academy, adviser Mindee Kissinger compares your options and why you might be better off waiting if you can.

You can claim Social Security as early as 62. However, delaying until full retirement age or later increases the monthly payment you’ll receive for the rest of your life. Full retirement age is 66 or 67 depending on your birthdate, and you can delay as far as age 70 to reach your maximum benefit.

If you want to learn more about Social Security and how it affects your income in retirement, start by watching the full Financial Academy session about Social Security.

We'll take you on a guided tour of the biggest myths people have about their Social Security benefits. Plus, Mindee explains what you need to know if you're filing with a spouse, more ways you can maximize your benefits, and the outlook for Americans to continue receiving Social Security in the future. Watch the session now.

Ready to jump ahead instead?

Our three-step approach can help you better understand how Social Security fits with your other savings, so you can make more informed decisions and feel better about your financial future.

    Take the above steps to reduce uncertainty around your future by preparing for a financially secure retirement today. Discover more
    Social Security Answers and find additional resources in the Retirement Savings & Planning section of the OneDigital Financial Academy.

    Investment advice offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.