Answer:

Individuals who choose not to join a Medicare Part D prescription drug plan when they are first enrolled in Medicare may have to pay a Late Enrollment Penalty every month for the rest of their lives when they eventually do join a Medicare Prescription Drug (Part D) plan.

Honorably discharged veterans who have limited incomes and nonservice related health problems may be eligible for a pension from the Department of Veterans Affairs.

To be eligible for this pension, you must be age 65 or older, or you must be permanently and totally disabled; you must have limited income and assets; and you must have served a minimum of 90 days of active duty with at least one day of active duty during wartime. If you entered active duty after September 7, 1980, you must have served at least 24 months, or the full period for which you were called to active duty.

Deciding when to begin receiving Social Security benefits is a major financial issue for anyone approaching retirement because the age at which you apply for benefits will affect the amount you'll receive. If you're married, deciding when to retire can be especially complicated because you and your spouse will need to plan together. Fortunately, there are a couple of strategies that are available to married couples that you can use to boost both your Social Security retirement income and income for your surviving spouse.

Social Security Administration - July 2008

At Social Security, we’re often asked, “What is the best age to startreceiving retirement benefits?” The answer is that there is no one “best age” for everyone and, ultimately, it is your choice. You should make an informed decision about when to apply for benefits based on your individual and family circumstances.  We hope the following information will help you understand how Social Security can fit into your retirement decision.