Video: Social Security: Now or later?

Bankrate.com

Intro: You can start collecting Social Security benefits anytime from age 62-70. The later you take your benefits, the more money you receive. Sounds like a good idea to hold off, but can people afford the delay? We took to the streets to find out when people started taking benefits, at what age they plan to start or if they think Social Security will be around in the coming years.

Take SOTs: I started when I could. I wanted to make sure I could get my money. And I don't think it will be there in the future.

I have no immediate plans to take it. I am 60 now. I know I don't look it. I know I could start taking it in a couple of years but unfortunately I am just going to have to keep working and working and working as long as I can work and just hold off and hope that it is there when I am ready to take it.

I took it early. It didn't seem as though I would do any better if I waited.

I actually took it when I could because I wasn't sure I would be around. You never know.

When I am eligible, I will probably take it. Because I've paid a lot in over the years and I don't imagine I'll ever get back what I paid in or the value of what it could have been if I invested it on my own.

I paid close to six thousand a year. They are not increasing my benefit, they are taking it away.

No, I took it at 62. I needed the money.

Tag: Need more information, figures and facts on Social Security? Just visit the retirement tab on the main page at Bankrate.com. I'm Kristin Arnold.



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