Financial Planning Magazine – Social Security: When to Claim at 62 

Financial Planning

Christopher Parr was quoted in this Financial Planning Magazine article by Donald Jay Korn on social security withdrawal planning.

Korn writes: Christopher Parr, CEO and President of Parr Financial Solutions, a fee-only wealth management firm in Columbia, Md., asserts that starting at 62 can be a good choice when cash flow is deficient and supplementary sources are not available or anticipated.

“In addition,” he says, “starting as early as possible can make sense for someone whose health is relatively poor, with life expectancy significantly below the remaining years on actuarial tables.”

“Parr adds that starting at 62 can work for someone who lacks confidence in the U.S. government making good on promised Social Security benefits. That person’s attitude might be, ‘I’ve paid into the system all these years and I want as much out of it as I can get before it goes bankrupt.’”