When to Start Social Security

Why your big sale year changes the answer
Course #: FN-065
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Field Note Description

You can start Social Security anytime from 62 to 70 — and the year you pick matters more than most farmers realize, especially when it collides with the year the machinery, grain, and land sell. This Field Note walks through the claiming window, how a big sale year drags your benefits into tax at the worst possible moment, the earnings trap for farmers who retire gradually, and how to set the sale date and the start date together with your tax preparer.