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Tucson Social Security Disability Blog

More Retirees Delay Taking Social Security Retirment Benefits

Posted by John Kuhnlein | Mar 31, 2022 | 0 Comments

One debate that will simply not abate is the issue of when to apply for Social Security Retirement Benefits (RIB). At present, workers can start receiving their monthly checks as early as age 62 or as late as 70. The sooner you go on, the smaller your retirement benefit. Conversely, the longer you wait, the higher your

The More We Wait, The More We Get

checks will be. The Goldilocks point is your full retirement age, FRA. This is the exact midpoint between the reduction in RIB and their increase.

Wait If You Can

I have always advocated for waiting as long as possible. You can read my reasoning here. That said, many people, perhaps a majority of retirees, claim RIB the moment they are eligible. The reasons for doing this vary.  Two of the most common are 1) what if I die before I reach the so-called break-even point and 2) what if Social Security goes broke and stops paying RIB? To me, both arguments are specious. The benefits of waiting until age 70 are vastly better than any alternative, including starting at FRA.

More Retirees Are Waiting To Claim

A report in the Washington Post suggests that more retirees are getting the idea and waiting to collect RIB. 5% more people eligible for RIB waited until at least

Anybody heard from Woodstein Lately?

age 65 to start collecting. Among recent retirees, there was an equal 5% who left the workforce but did not put in for RIB. This is very heartening news and suggests that more people are making better financial decisions.

Why The Increase In Waiting To Collect?

But, what accounts for this? Some believe that the availability of other Federal benefits, such as stimulus payments and extended unemployment benefits allowed recent retirees to avoid collecting RIB. Two decidedly more negative explanations could factor in. One is the simple fact that Covid-19 has killed around 175,00 retirement-age Americans. The second bad reason is also related to the pandemic: Social Security shut all of its offices and this has prevented people from applying for RIB.

Stocks, Bonds, And The Wealth Effect

The most probable explanation is the surging stock market. Since the pandemic began, the S&P 500 is up as much as 40%.  Many people have looked at their bank accounts and decided that they don't need to work anymore. Not only that, they don't need Social Security retirement benefits to make ends meet. 

Talk To Your Financial Advisor Or Accountant

Please don't make such an important financial decision as to when to begin drawing RIB based on this article. Talk to your financial planner and accountant before taking any steps.

About the Author

John Kuhnlein

Since 1992, I have been helping the people of Southern Arizona get the benefits they are due. Before devoting all my efforts to assisting people with Social Security disability claims, I also handled such complex lawsuits as medical malpractice and products liability. I brought to my Social Security cases all the skills and attention to detail that I developed in the courtroom. I approach each Social Security disability case as if it were a million-dollar lawsuit. For the people trying to get Social Security benefits, their claim is every bit as important. Because I have personally handled so many Social Security cases, I have refined the skills I need to win your case for you. I have helped people win cases for every kind of ailment from arthritis to valley fever. At present, I am focused on helping those persons with neurological and orthopedic disorders. Because claims for people over age fifty bring additional complications, I particularly seek out those cases to work on. I regularly write about back and spine conditions on my blog. I actively seek out the latest information about orthopedic and neurological disorders to ensure I can represent my clients as effectively as possible. Because of my current focus, I regret that I am not able to take any cases for mental disorders. If you are over age fifty and suffer from any orthopedic or neurological disorder, please contact me at once.


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John Kuhnlein has been assisting people with Social Security disability claims for the past 25+ years.

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