As you approach retirement, one of the biggest financial decisions you'll

need to make is when to begin receiving your Social Security benefits.

Should you begin receiving a smaller Social Security benefit early, or

should you opt to wait until full retirement age or even longer in order to

receive a larger benefit?

There's no ''one-size-fits-all" answer; when to begin receiving Social

Security benefits depends on your personal circumstances, and there

are many variables. For example, you may have to take Social Security

benefits as early as possible if you need Social Security income to meet

day-to-day living expenses, perhaps because of illness, disability, or

unemployment. But if that's not the case--if you have other sources of

retirement income or you want to continue working, for example, you

may decide that waiting to claim Social Security benefits makes the most

financial sense for you.