Calculating Your Social Security Break Even

As retirement nears, you may be wondering when to start taking Social Security payments. These benefits are primarily based on your earnings during your working years and your age when you start receiving benefits. You can start payments at age 62, but your checks will be reduced. If you wait, your monthly checks will increase until age 70. Your break-even age is the point when drawing your payments later begins to exceed the value of starting payments early. Read Full Article »