HECM offers another option to delay taking Social Security benefits until age 70.
One of the most significant financial decisions baby boomers will make involves deciding when to begin taking Social Security Agency (SSA) benefits. Making the wrong decision could end up costing an individual hundreds of thousands of dollars over his or her retirement lifetime. It’s essential that those approaching retirement study their benefit options and understand how each will impact their financial future. There’s no one-size-fits-all answer as to when to begin receiving SSA benefits. It all depends on each individual’s unique financial landscape and retirement goals.
The decision to begin receiving Social Security benefits will impact a number of financial aspects, such as: