Are You Really Ready to Start Collecting Social Security? Here Are 7 Signs It Might Be the Perfect Time.

Core Insights - Nearly 70 million people receive Social Security benefits, primarily retirees, but also including spouses, children, disabled workers, and survivors of deceased workers [1] Group 1: Social Security Account - Setting up a "my Social Security" account is recommended for everyone to track contributions and future benefits [3] Group 2: Understanding Social Security - It is crucial to read up on Social Security to make informed decisions that could maximize total benefits, especially considering the program's impending funding shortfall [4][5] Group 3: Retirement Planning - A comprehensive retirement plan is essential, with Social Security being a part of it but not the primary source of income [6][8] - Early planning and saving can reduce the total amount needed for retirement and may allow for early retirement [7] Group 4: Multiple Income Streams - Relying solely on Social Security for retirement income is not advisable; establishing multiple income streams is recommended [9]