When do I start taking Social Security?

Yeah, that's a big question. Number one, realize that Social Security is taxed, and that has a lot to do with whether you take it or not.

I would say that if you need the income to live off of, start your Social Security as soon as you can. 

There’s also another side of it, where you say, Hey, if you don't have longevity in your life, and maybe your parents died early in life, then maybe you do take your Social Security as soon as you can, at age 62.

Because you're going to collect more money faster, it will be less, but you're getting that money before you do die. So, some people have that mentality too.

I would say the most important thing is, if you need to live off it, that's when I would take Social Security.

*Blog Disclosure: It's not the purpose of this blog post to provide tax, legal and/or financial advice and you should always seek counsel from your CPA, attorney, and/or advisors as these topics relate to your specific needs. This information is being presented in a very general way and it's for illustrative purposes only.