Dear Savvy Senior,

Can you recommend any services that help pre-retirees decide when to start drawing their Social Security benefits? My wife and I are approaching retirement age and want to carefully weigh our options to make sure we’re maximizing our benefits.

Approaching Retirement

Dear Approaching,

Deciding when to begin collecting your Social Security benefits could be one of the most important retirement-income decisions you’ll make. The difference between a good decision and a poor one could cost you tens of thousands of dollars over your retirement, so doing your homework and weighing your options now is a wise move.

What to Consider

As you may already know, you can claim Social Security any time between the ages of 62 and 70, but each year you wait increases your benefit by 5 to 8 percent. But there are other factors you…