For many people, Social Security will be their primary income source in retirement.

Not their only income source, but certainly their primary source.

But what if that's not the case for you?

What if you have sufficient assets or sufficient income outside of Social Security

such that you don't depend upon those benefits for your retirement needs?

If that's the case, how should that change your approach to collecting Social Security? Well, that and more is what we'll be discussing on today's episode of Ready

for Retirement. This is another episode of Ready for Retirement. I'm your host, James Connell,

and I'm here to teach you how to get the most of the life with your money. And now, on to the episode.

It's fair to say that Social Security is a pretty important component of just about everybody's retirement plan. However, the extent to which

you depend upon those benefits or you have other assets or income sources to supplement those

benefits, in large part is what's going to drive your decision as to

when you should collect into how you can most effectively capture that and incorporate those

benefits into your plan. In today's episode, it's going to be based on a listener question. This

question comes from Isana. And Isana says, quick question, but just says, we're 59 and 62 and we

are retired. We don't need Social security. However, should we take it now

versus take it later? Also, what do we do when we need cash and we're in a down market? So pretty

short, pretty sweet. That's entirely the question. Thank you, Isana, for submitting that. But it's

important because as I said, for some people, they retire and if Social Security is your only

income source, you really don't have any other option but to collect it right then. However,

if you retire and you do have other assets, other income sources, then you have a little bit

more flexibility as to when you do collect Social Security and the decision to do so

should depend upon a few factors

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