Investing

In this seven image composite, shareholders gather prior to the start of the Berkshire Hathaway annual meeting in Omaha, Nebraska, U.S., on Saturday, May 1, 2010.
Daniel Acker | Bloomberg | Getty Images

Berkshire Hathaway’s annual meeting is far different — and larger — than it was six decades ago, when Warren Buffett took over what was then a failing Massachusetts textile company.
Today’s “Woodstock for Capitalists” began with just a dozen attendees in 1965. Sixty years later, the Omaha, Nebraska gathering attracts as many as 40,000 people from around the world.

Nowadays, attendees begin lining up outside the CHI Health Center in the early morning hours on Saturday to hear from Warren Buffett, the 94-year-old chief executive officer. Known as the Oracle of Omaha for dispensing investment wisdom, Buffett is also famous for sharing insights into business and strategy, not to mention advice on softer topics such as friendship and life, to a rapt audience.
This year’s shareholder meeting is Buffett’s second without Charlie Munger, his close friend and business partner who died in 2023. Greg Abel, Berkshire Hathaway Energy chairman and Buffett’s successor, will join him for questions on stage. Insurance Chief Ajit Jain will also join the pair for part of Saturday’s question-and-answer event.
The event has ballooned into a weekend-long array of activities, including a shopping event known as the “Berkshire Bazaar of Bargains,” featuring products made by the conglomerate’s subsidiaries. A 5-kilometer run and value investing conferences have become hallmarks of attendees’ weekend itineraries.
“You’ve just got event after event after event,” said Christopher Bloomstran, president of Semper Augustus Investments Group. Bloomstran, who’s attended the annual meeting for more than two decades, called it a “rite of passage” for new investors.
This year, the company is selling 5,000 volumes of a limited edition book, “60 Years of Berkshire Hathaway,” marking Buffett’s tenure as CEO. Proceeds from an auction of copies signed by Buffett and author Carrie Sova will benefit the Stephen Center, a charity for homeless youth and adults in South Omaha.

The meeting itself will look different than what many attendees remember from years past, according to the 2024 shareholder letter. Buffett will make opening remarks at 8 a.m. local time Saturday, but there will be no movie introduction, a popular feature in prior years. The question-and-answer period will only have a half-hour break and end at 1p.m., though the shopping area will remain open until 4 p.m.
News outlets have covered the event for decades. The event will be broadcast exclusively by CNBC this year and webcast in English and Mandarin.
Regular attendees often say there’s a magic and camaraderie to the in-person experience that keeps them coming back to Omaha, where Berkshire is headquartered, despite being able to livestream the event at home.
“It really is special,” said Adam Mead, CEO of Mead Capital Management and author of “The Complete Financial History of Berkshire Hathaway.” “‘I’m not a religious person, but it has that feel of going to church.”
The following are a collection of moments from meetings throughout the years compiled by CNBC in honor of Warren Buffett’s 60 years leading Berkshire Hathaway.

Warren Buffett, CEO of Berkshire Hathaway, attends the company’s annual shareholders’ meeting with his daughter (left) and his wife, both named Susan. Buffett and his wife separated in 1977 but remained friends and business partners.
Mark Peterson | Corbis | Getty Images

Berkshire Hathaway’s CEO Warren Buffett (L) and his business partner Vice Chairman Charles Munger answer questions at a news conference May 4, 2003 in Omaha, Nebraska.
Eric Francis | Getty Images

Warren Buffett, chairman of Berkshire Hathaway, plays the ukulele for a crowd of shareholders at the Fruit of the Loom booth during the Berkshire Hathaway annual meeting in Omaha, Nebraska, Saturday, April 30, 2005.
Eric Francis | Bloomberg | Getty Images

In this seven image composite, shareholders gather prior to the start of the Berkshire Hathaway annual meeting in Omaha, Nebraska, U.S., on Saturday, May 1, 2010.
Daniel Acker | Bloomberg | Getty Images

Warren Buffett, chairman of Berkshire Hathaway Inc., sings a song with University of Nebraska cheerleaders during an event at the Berkshire Hathaway annual shareholders meeting in Omaha, Nebraska, U.S., on Saturday, May 5, 2012.
Daniel Acker | Bloomberg | Getty Images

Warren Buffett, chairman of Berkshire Hathaway Inc., holds a large ping pong paddle as he plays table tennis with Ariel Hsing, a member of the 2012 U.S. Olympic team, during an event at the annual shareholders meeting in Omaha, Nebraska, U.S., on Sunday, May 6, 2012.
Daniel Acker | Bloomberg | Getty Images

Warren Buffett, Berkshire Hathaway Inc. chairman and chief executive officer, right, talks with Bill Gates, billionaire and co-chair of the Bill and Melinda Gates Foundation, as they tour the exhibition floor during the Berkshire Hathaway Inc. annual shareholders meeting in Omaha, Nebraska.
Daniel Acker | Bloomberg | Getty Images

Caricatures of Warren Buffett, Berkshire Hathaway Inc. chairman and chief executive officer, and Charles Munger, vice chairman of Berkshire Hathaway Inc., appear on a special edition package of Heinz ketchup and mustard during the Berkshire Hathaway Inc. annual shareholders meeting in Omaha, Nebraska, U.S., on Saturday, May 2, 2015.
Daniel Acker | Bloomberg | Getty Images

The Brooks Invest in Yourself 5K Run at the 2018 Berkshire Hathaway Annual Shareholder’s Meeting in Omaha, NE.
David A. Grogan | CNBC

Warren Buffett speaks with the media during the 2019 BHASM in Omaha, NE on May 4th, 2019.
Gerard Miller | CNBC

A salesperson wears pins of Warren Buffett, CEO of Berkshire Hathaway, and Vice Chairman Charlie Munger during the annual Berkshire shareholders meeting in Omaha, Nebraska, May 3, 2019.
Johannes Eisele | AFP | Getty Images

Display for Brooks showing Warren Buffett at the Berkshire Hathaway Annual Shareholder Meeting in Omaha, Nebraska.
Yun Li | CNBC

Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024.
David A. Grogen | CNBC More

There’s currently a $10,000 limit on the federal deduction on state and local taxes, known as SALT, which will sunset December 31, 2025 without action from Congress.
It’s been a key issue for lawmakers in high-tax states and could change amid negotiations for President Donald Trump’s policy agenda.
However, SALT cap increases would primarily benefit higher earners who are more likely to itemize deductions, experts say.

U.S. Representative Josh Gottheimer (D-NJ) speaks during a press conference about the SALT Caucus outside the United States Capitol on Wednesday February 08, 2023 in Washington, DC. 
Matt McClain | The Washington Post | Getty Images

As debates ramp up for President Donald Trump’s policy agenda, changes to a key tax provision could benefit higher earners, experts say. 
Enacted via the Tax Cuts and Jobs Act, or TCJA, of 2017, there’s a $10,000 limit on the federal deduction on state and local taxes, known as SALT, which will sunset after 2025 without action from Congress.Currently, if you itemize tax breaks, you can’t deduct more than $10,000 in levies paid to state and local governments, including income and property taxes.

Raising the SALT cap has been a priority for certain lawmakers from high-tax states like California, New Jersey and New York. With a slim House Republican majority, those voices could impact negotiations.
More from Personal Finance:This lesser-known 401(k) feature can kickstart your tax-free retirement savingsTreasury Department: Series I bond rate of 3.98% through October 2025Gold ETF investors may be surprised by their tax bill on profits
While Trump enacted the $10,000 SALT cap in 2017, he reversed his position on the campaign trail last year, vowing to “get SALT back” if re-elected. He has renewed calls for reform since being sworn into office.
Lawmakers have floated several updates, including a complete repeal, which seems unlikely with a tight budget and several competing priorities, experts say.
“It all has to come together in the context of the broader package,” but a higher SALT deduction limit could be possible, said Garrett Watson, director of policy analysis at the Tax Foundation.

Here’s who could be impacted.

How the SALT deduction works

When filing taxes, you choose the greater of the standard deduction or your itemized deductions, including SALT capped at $10,000, medical expenses above 7.5% of your adjusted gross income, charitable gifts and others.
Starting in 2018, the Tax Cuts and Jobs Act doubled the standard deduction, and it adjusts for inflation yearly. For 2025, the standard deduction is $15,000 for single filers and $30,000 for married couples filing jointly.
Because of the high threshold, the vast majority of filers — roughly 90%, according to the latest IRS data — use the standard deduction and don’t benefit from itemized tax breaks.
Typically, itemized deductions increase with income, and higher earners tend to owe more in state income and property taxes, according to Watson.

Who benefits from a higher SALT limit

Generally, higher earners would benefit most from raising the SALT deduction limit, experts say.
For example, one proposal, which would remove the “marriage penalty” in federal income taxes, involves increasing the cap on SALT deduction for married couples filing jointly from $10,000 to $20,000.
That would offer almost all the tax break to households making over $200,000 per year, according to a January analysis from the Tax Policy Center.
“If you raise the cap, the people who benefit the most are going to be upper-middle income,” said Howard Gleckman, senior fellow at the Urban-Brookings Tax Policy Center.

Of course, upper-middle income looks different depending on where you live, he said.
Forty of the top fifty U.S. congressional districts impacted by the SALT limit are in California, Illinois, New Jersey or New York, a Bipartisan Policy Center analysis from before 2022 redistricting found.
If lawmakers repealed the cap completely, households making $430,000 or more would see nearly three-quarters of the benefit, according to a separate Tax Policy Center analysis from September. More

House Republicans have a plan to drastically change how millions of Americans repay their student debt, starting July 1, 2026.
Here’s what monthly bills for student loan borrowers could be if the proposal is enacted.

U.S. Secretary of Education Linda McMahon smiles during the signing event for an executive order to shut down the Department of Education next to U.S. President Donald Trump, in the East Room at the White House in Washington, D.C., U.S., March 20, 2025. 
Carlos Barria | Reuters

House Republicans have a plan to drastically change how millions of Americans repay their student debt.
Under the GOP’s new proposal, known as the Student Success and Taxpayer Savings Plan, there would be just two repayment options for those with federal student loans. Currently, borrowers have about 12 ways to repay their student debt, according to higher education expert Mark Kantrowitz.

If the GOP plan is enacted, borrowers would be able to pay back their debt through a plan with fixed payments over 10 to 25 years, or via an income-driven repayment plan, called the “Repayment Assistance Plan.”
Under the RAP plan, monthly bills for borrowers would be set as a share of their income, said Jason Delisle, a nonresident senior fellow at the Urban Institute. The percentage of income borrowers’ would have to pay rises with their earnings, starting at 1% and going as high as 10%.
House Republicans unveiled their agenda to overhaul the student loan and financial aid system at the end of April, in an effort to tout savings for President Donald Trump’s planned tax cuts.
Here’s what monthly bills for student loan borrowers could be if the proposal becomes law.

What’s new about the GOP student loan payment plan

Don’t miss these insights from CNBC PRO More

Many employers slashed jobs of older workers at the onset of Covid.
Now, with more flexible employment policies, older workers may be able to work longer.
Here’s what experts say to think about if you want to extend your career.

Franckreporter | E+ | Getty Images

Millions of older workers lost their jobs during the Covid-19 recession.
Between March and April 2020, 5.7 million workers ages 55 and up lost their jobs, according to the Economic Policy Institute’s analysis of federal data.

Now, five years since the onset of the pandemic, some older workers may be benefitting from policies that help them extend their careers.
“We’re seeing more and more employers putting in benefits and programs that help retain some of that older workforce,” said Carly Roszkowski, vice president of financial resilience programming at AARP.
These programs include phased retirement plans, part-time schedules and remote or hybrid work options, Roszkowski said.
Money is still the main reason why people want to stay in the workforce longer, particularly as inflation has pushed prices higher, according to Roszkowski. But there are also other motivators, including social connections, a sense of purpose or meaningful work that may help inspire individuals to continue to work.
More from Personal Finance:Should you wait to claim Social Security? Here’s what experts sayAmericans more worried about running out of money in retirement than dyingNearing retirement? These strategies can protect from tariff volatility

Working remotely may help extend careers

One lasting impact of the pandemic — increased flexibility to work remotely — may be helping some older workers delay retirement, according to new research from the Center for Retirement Research at Boston College.
The research finds that an individual who is working remotely is 1.4 percentage points less likely to retire than a worker in an otherwise comparable situation.
Based on those results, that could enable workers to extend their careers by almost a full year.
“If they delay claiming Social Security for that year, or delay digging into their 401(k) for that year, or contribute to their 401(k) for that year, that’s all going to be good for their finances,” said Geoffrey Sanzenbacher, a research fellow at the Center for Retirement Research and professor of the practice of economics at Boston College.

Whether or not individuals can work remotely comes down to employer preference. For example, some companies — JPMorgan, AT&T, Amazon and Dell — have moved to five-day in-office policies. The federal government, which has a workforce that skews older, has also moved to enforce in-person work policies under President Donald Trump.
Research suggests older workers benefit from remote work. In particular, the employment rate of older workers who have a disability increased by 10% following the pandemic, according to the Center for Retirement Research.
To be sure, not all careers may allow for remote work.

What career experts say to do now

Career experts say there are certain ways older workers can help extend the longevity of their working years.
Older workers should focus on upscaling — gaining new skills or boosting their current skill set — to help show off their skills to employers, said Vicki Salemi, career expert at Monster.  That may be through a certification, online class or volunteering, she said.
Having a foundational, basic understanding of technology tools used in the workplace is also essential, said Kyle M.K., a talent strategy advisor at Indeed.com.
Older workers may also want to show off their relationship building skills, which can set them apart from younger generations that are more digitally inclined, according to Salemi.
Mentoring, conflict resolution or other interpersonal skills are highly sought after skills that should be highlighted, where possible, M.K. said.
By keeping digital profiles up to date on job search sites, older workers can emphasize their skills and experience, he said.
“Digital presence is sometimes the very first introduction that the employer will have with you,” M.K. said. More

Series I bonds will pay 3.98% through October, the U.S. Department of the Treasury announced Wednesday.
Tied to inflation, the latest I bond rate is up from the 3.11% offered through April, but down from the 4.28% yield paid through October 2024.
Current I bond owners will see rates adjust based on their purchase date.

Jetcityimage | Istock | Getty Images

How I bond rates work

I bond rates have a variable and fixed rate portion, which the Treasury adjusts every May and November. Together, these are known as the I bond “composite rate” or “earnings rate,” which determines the interest paid to bondholders for a six-month period. 
You can see the history of both parts of the I bond rate here.

The variable rate is based on inflation and stays the same for six months after your purchase date, regardless of the Treasury’s next announcement. 
Meanwhile, the fixed rate doesn’t change after purchase. It’s less predictable and the Treasury doesn’t disclose how it calculates the update. 

How I bond rate changes affect current owners

If you currently own I bonds, there’s a six-month timeline for rate changes, which shifts depending on your original purchase date. 
After the first six months, the variable yield changes to the next announced rate. For example, if you buy I bonds in September of any given year, your rates update every year on March 1 and Sept. 1, according to the Treasury. The Treasury adjusts I bond rates every May and November, reflecting the latest inflation data. 
For example, if you bought I bonds in March, your variable rate would start at 1.90% and change to the new rate of 2.86% in September. But your fixed rate would remain at 1.20%. That would bring your new composite rate to 4.06%. More

Gold hit record highs in April amid fears about tariffs, trade wars and their economic impact.
For some consumers, that makes this a good opportunity to sell high-karat jewelry, which can be melted for cash.
Experts say to proceed with caution and recommend having a rough idea of your gold’s value before trying to sell it.

Gold tends to ‘trade on fear’

The recent surge in gold prices is pushing more people to consider unloading their family heirlooms and other valuables, which can be melted for cash, according to Schmidt.
Spot gold prices hit an all-time high above $3,500 per ounce last week. The record follows a barrage of tariffs announced by President Donald Trump in April, fueling concern that a global trade war will push the U.S. economy into recession. One year ago, prices were about $2,200 to $2,300 an ounce.
As of Wednesday morning, gold futures prices were up about 23% year-to-date and 36% higher compared to the price a year ago. 

“Gold tends to trade on fear, and we have a lot of fear in the markets right now,” said Kathy Kristof, a personal finance expert and founder of SideHusl.com.
“If you can find a moment when people are the most fearful, that’s an ideal time to sell your gold,” she said. “Strike while the iron is hot.”

What to know before selling your gold

Sopa Images | Lightrocket | Getty Images

Many consumers who hold physical gold — such as higher-karat jewelry, bars and coins — view it as “financial insurance,” said Jordan Roy-Byrne, founder of The Daily Gold, an online resource for gold, silver and mining stocks.
“Gold is reassuring,” Schmidt explained. “It offers something tangible, dependable, and easily liquidated when times get tough.”
1. ‘Do the math’
One downside of selling physical gold is traditionally high trading costs — and those costs are typically not transparent, Kristof said.
Consumers should check the spot price of gold online before hawking their gold at a pawn shop or online marketplace like Alloy or Express Gold Cash, Kristof said.
Sellers can use the spot price to get a rough sense of what their gold is worth, if they know its weight and purity, to sense if they’re being ripped off, Kristof said. (Keep in mind: 24-karat gold is pure gold; an 18-karat piece is 75% gold and 25% other metals.)
“Do the math before you even go,” she said. “Fools get creamed.”
Price comparisons and deal shopping are “always wise” moves for consumers, Kristof added.
“It is a competitive marketplace,” she said. “You can get a better deal.”

2. ‘Wise or foolish’ to wait?
Some experts say prices may have topped out, but others think there is still room to run.
“My view is that gold hit an interim peak, which should hold up at least into the fall,” Roy-Byrne said.
Ultimately, it’s impossible to know what the future holds. Consumers should assess if they made a good return on investment, and if the risk of holding and hoping for a better profit “is wise or foolish,” Kristof said.
3. Tax bill may be unexpectedly high
One cautionary note: Sellers may pay a higher tax rate on their gold profits than they may otherwise think.
That’s because the Internal Revenue Service would likely consider physical gold like jewelry, coins or bars to be a “collectible,” for tax purposes, explained Troy Lewis, a certified public accountant and professor of accounting and tax at Brigham Young University.
Federal long-term capital gains taxes on collectibles can go as high as 28%, while those on other assets like stocks and real estate can reach 20%.

4. Proceed ‘thoughtfully’
Schmidt recommends proceeding “thoughtfully” before selling or melting down gold jewelry.
“It can be a smart move for those needing immediate funds, but not every piece should be melted down,” he said. “Items with historical or artistic value, like family heirlooms or antique jewelry, may be worth more in their original form than as melted metal.”
Schmidt recommends consulting with a reputable jeweler or appraiser before selling as well as considering the cost of cashing out.
“Gold may be in high demand, but once a unique piece is melted, its original value is lost forever,” he said.
Subscribe to CNBC on YouTube. More

Roth conversions transfer pretax or nondeductible individual retirement account money to a Roth IRA, which starts future tax-free growth.
It’s a popular strategy when the stock market drops because you can reduce your upfront taxes.
But there are several factors to consider before converting funds, experts say.

dowell | Moment | Getty Images

As investors wrestle with tariff-induced stock market volatility, there could be a tax-planning opportunity. But it’s not right for all investors, experts say.
The strategy, known as “Roth conversions,” transfers pretax or nondeductible individual retirement account money to a Roth IRA, which starts future tax-free growth. The tradeoff is paying upfront taxes due on the converted balance.

This planning move has been gaining popularity. As of Dec 31, the volume of Roth conversions increased by 36% year-over-year, according to the latest data from Fidelity Investments.
More from Personal Finance:What Consumer Financial Protection Bureau cuts could mean for consumersInternational students rethinking U.S. college plans amid visa policy shiftNearing retirement? These strategies can protect savings from tariff volatility
Roth conversions are especially attractive when the stock market drops, according to certified financial planner Ashton Lawrence, director at Mariner Wealth Advisors in Greenville, South Carolina.
Here’s why: Amid market volatility, you can convert a smaller balance and pay less upfront taxes. When the market recovers, you’ll secure tax-free growth in the Roth account, Lawrence said.
Still, there are some key factors to consider before converting funds, experts say.

Consider your tax rate

When weighing Roth conversions, “the single biggest factor” should be your current marginal tax rate vs. your expected rate when you withdraw the funds, said George Gagliardi, a CFP and founder of Coromandel Wealth Management in Lexington, Massachusetts. (Your marginal rate is the percent you pay on your last dollar of taxable income.)
Typically, you should aim to time planning moves that incur taxes — including those from Roth conversions or future withdrawals — when rates are lower, experts say.
But boosting your adjusted gross income can lead to other tax consequences, such as higher Medicare Part B and Part D premiums. That’s why it’s important to run tax projections before converting funds.

Cover the upfront taxes

When completing a Roth conversion, you’ll owe regular income taxes on the converted balance, which should also factor into your decision, Lawrence said.
Generally, you should aim to pay those taxes from other sources, such as savings. “The last thing you want” is to use part of the converted balance to cover taxes because then there will be less to transfer to the Roth account, he said.

Discuss your legacy goals

Another factor could be your legacy goals — including whether heirs, such as adult children, could inherit part of your pre-tax retirement balance, experts say.
Since 2020, certain heirs must follow the “10-year rule,” which stipulates that inherited IRAs must be depleted by the 10th year after the original account owner’s death. This applies to beneficiaries who are not a spouse, minor child, disabled, chronically ill or certain trusts.
In some cases, clients pay taxes upfront via a Roth conversion to spare their future heirs from the bill, Lawrence said. Alternatively, some pass along the tax liability when heirs are in a lower tax bracket.
“We know that Uncle Sam is going to get his fair share, but we can be smart about it,” he added. More

Waiting until age 70 to claim retirement benefits provides the biggest monthly Social Security checks
But it can sometimes make sense to claim earlier.
Here are the factors experts say you may want to consider.

Westend61 | Getty

Concerns about the future of the Social Security Administration may tempt some workers to claim retirement benefits early.
Yet experts warn that may not be the best decision.

It’s no secret that Social Security is running low on funding. Fears that the program might not be able to pay benefits in the future — or that benefits might be cut — have prompted people to take their money earlier, even if it means receiving a smaller monthly payment for the rest of their lives.
In 2024, the trustees projected the trust fund used to help pay retirement benefits may be depleted in 2033, when 79% of benefits will be payable. Social Security’s trustees have not yet released new trust fund depletion projections in 2025.
More from Personal Finance:Nearing retirement? These strategies can protect from tariff volatilityExperts see higher stagflation risks. Here’s what it means for your money20 items and goods most exposed to tariff price shocks
Changes at the Social Security Administration — including staff cuts and long wait times for service — do not encourage more confidence in the program, noted Kelly LaVigne vice president of consumer insights at Allianz Life Insurance Company.
A recent survey from Allianz found that 64% of Americans are more worried about running out money than they are about dying. Meanwhile, Social Security not providing enough money was the second reason cited for those worries behind inflation, the survey found.

On average, Social Security benefits replace about 40% of a worker’s pre-retirement income, according to the SSA. As Congress eventually seeks a fix to the program’s funding woes, that may require Americans to pay more taxes and/or receive less benefits.
“If you cut that, or there’s a threat of cutting that, that does make the fear of running out of money even greater,” LaVigne said of Social Security benefits.

Why it’s generally best to wait to claim

Many people may be tempted to claim Social Security benefits now to get the money while they can.
“There are people who make the comment, ‘I want to start taking from it now, before it’s taken away from me,'” said Andrew Herzog, a certified financial planner and associate wealth manager at The Watchman Group in Plano, Texas.
In those cases, Herzog said he typically reassures clients that scenario is “very unlikely,” particularly for older generations who are already in or near retirement. Lawmakers including President Donald Trump have promised not to cut the Social Security benefits retirees are already receiving. For future retirees, it is possible benefits may be reduced, though it is unlikely the program will entirely run out of money.
Individuals who want to take their retirement benefits at age 62 — otherwise known as the early eligibility age — need to understand their benefits will be reduced, Herzog said. By waiting until full retirement age — generally age 66 to 67, depending on date of birth — beneficiaries may receive 100% of the benefits they earned.
For workers whose full retirement age is 66, claiming early at 62 will result in a 25% reduction in monthly benefits. For workers whose full retirement age is 67, claiming at 62 prompts a 30% cut to monthly benefits. Yet most people claim before full retirement age, according to the Congressional Research Service.

Workers who wait even longer to claim retirement benefits — up to age 70 — stand to receive the biggest monthly checks. For every year individuals wait past full retirement age, they stand to receive an 8% increase to their benefits. For workers whose full retirement age is 66, that represents a 32% boost to monthly benefits. For workers with a full retirement age of 67, that’s a 24% boost.
“For those who expect to have a normal life expectancy of 80 years plus, then it can make sense to wait to age 70 to get the maximum benefit,” Herzog said.
To be sure, the decision comes down to many factors, including how long someone is able to work, whether they can draw from other investment income and the choice that will help them best sleep at night, Herzog said.
Notably, delaying even just one month can help increase monthly benefit checks.

When to claim Social Security benefits early

Most workers who expect to live long lives will want to prioritize the risk they could outlive their money, and therefore delay claiming benefits, according to Vanguard research.
But for those who do not expect to live as long, the prospect of break-even risk — or the risk of receiving a smaller total sum by delaying — should be prioritized instead, according to Vanguard.
Claiming early can provide other perks, such as making it possible to spread the tax burden of that income over more years, Vanguard’s research notes. Plus, with lower monthly checks, less of that Social Security income may be taxed and it may be possible to keep Medicare income-related monthly adjusted amounts, or IRMAA, low, according to the research.
Yet for many individuals, there are other reasons to wait to claim that are compelling, particularly if their spouses may need to live on their benefits once they die. Moreover, having higher monthly benefits means they may be better prepared to withstand unexpected financial shocks, according to Vanguard. More