As an employee of the Social Security Administration, may I suggest you go ahead and take your benefits now? Taking your benefits earlier rather than later is usually a better financial deal over the long run: although your monthly payment is lower when you draw at an earlier age, you draw benefits for a longer period of time. The difference between the lower, earlier benefit and the later, higher benefit usually doesn't break even for about 17 years.
At least go talk to someone at your local office before making a decision. The claims rep can give you hard figures and calculate your break even point. If you decide to take your benefits early and don't need them, you can always bank them and build up your nest egg.
ETA: Of course, if you're going to take some other job and continue working after taking your pension, that's an entirely different story...
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Date: 2011-03-06 01:01 am (UTC)At least go talk to someone at your local office before making a decision. The claims rep can give you hard figures and calculate your break even point. If you decide to take your benefits early and don't need them, you can always bank them and build up your nest egg.
ETA: Of course, if you're going to take some other job and continue working after taking your pension, that's an entirely different story...