From KM&M CPAs/Thomson-Reuters —  

Dear Clients,

If your 62nd birthday is in the near future, it’s time to start thinking about your Social Security benefits. Many people consider 65 to be the traditional age for retirement. But for Social Security purposes, you can actually begin collecting as early as age 62. Most likely, if you’re currently under 62, your official “full retirement age” is 67. To receive the maximum benefit amount, you also can delay benefits until as late as age 70.

Starting benefits as soon as possible may seem like a good idea, and it can be in the right situation. The catch is your benefits will be reduced by as much as 30% if you don’t wait until your full retirement age, which is likely 67.

In many situations, delaying the start of Social Security benefits may be the right plan. Holding off until you hit 67 means you’ll get 100% of your eligible benefits.

For some, waiting even longer may be the right answer. Not taking retirement benefits until you reach 70 results in a 24% increase in your full retirement benefits. Check your current projected Social Security benefits at the Social Security Administration website.

The bottom line is every individual’s situation is unique. What’s right for one, may not be the best choice for another. So, what should you do? That’s where we come in. The decision on when to “retire” is definitely not to be taken lightly. There are too many factors to consider. We’re here to help you navigate the process.

Please contact us to help walk you through how the various Social Security scenarios might play out for you.

Very truly yours,

Kleshinski, Morrison & Morris CPAs


Contact KM&M CPAs

If you have questions concerning  your Social Security benefit options or any other individual or business tax accounting issue, contact Kleshinski, Morrison & Morris CPAs for expert advice. Reach us by phone at  419-756-3211, by  email sent to, or by filling out our contact form on this site at this link.