Be secure about Social Security
Social Security might be confusing to a lot of seniors, and we get it. There are a lot of things to consider, from how your benefits are calculated to when and who can claim them. That’s probably why a lot of seniors start claiming as soon as they can, when they turn 62. But this could be ill-advised, especially for those who don’t necessarily need the funds right then and there.
Here’s what you should know. Claiming earlier than your full retirement age, which is based on your year of birth and could be 66 or 67, will reduce your benefits permanently. Waiting until 70, if you can, you will see an increase in benefits. But you might not even want to claim your own. You could tap into your spouses or ex’s benefits if they’re more advantageous. See, there are plenty of things to consider, so don’t go about it all willy-nilly.
Want to know more about your Social Security? Check this article out and don’t miss out on information that could translate to more money in your pocket!
