Can i stop collecting social security

You can restart your benefit any month that you choose up to age 70 when it will automatically restart. When you suspend Social Security, anyone else who is getting benefits based on your record your spouse, for example will no longer be able to receive benefits while yours are suspended. One exception is divorced spouses. One key consideration when it comes to a decision about delaying benefits is your life expectancy.

If your family has a lower life expectancy or you have a history of health issues, you may decide you want to claim earlier. That could mean tapping into your cash reserves, k plans , IRAs, traditional investments, cash value from whole life insurance, or other forms of guaranteed income such as pensions or annuities. Social Security is complex, and it can get even more overwhelming if you find yourself in a position where you want to suspend or withdraw your benefits.

This is why you need to talk with a financial adviser as you are preparing for retirement. A professional can help you find the right Social Security strategy for your unique situation, create a comprehensive plan and make adjustments for the unexpected.

Tony is an Investment Adviser Representative and has helped clients prepare for retirement for more than a decade. Tony is passionate about building strong relationships with his clients so he can help them build a strong plan for their retirement.

Skip to header Skip to main content Skip to footer. Home retirement social security. Suspending Your Social Security Benefits If you are not eligible to withdraw your benefits because it has been longer than 12 months since you enrolled, but you are between full retirement age and age 70, you can voluntarily suspend your benefits. This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff.

About the Author. Most Popular. Tax Breaks. February 25, Investing for Income. Fidelity funds are renowned for their managers' stock-picking prowess. We rate Fidelity's best actively managed funds that are popular in k plans…. October 25, The Best T.

Social Security was never intended to be an income replacement fund. If you have a good job opportunity or prefer to work into what most people consider retirement age, then you should.

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