Consider withdrawing your Social Security claim, if you’ve already filed one

Did you decide to collect your benefits earlier only to find yourself disappointed by the amount you’re going to receive? Without careful research and planning for retirement, it can happen to the best of us.

However, there’s a way to undo the situation. If you’ve claimed Social Security benefits in the last 12 months, you are allowed to withdraw your claim and file for these benefits at some other point in the future, when you can be sure your benefits will be higher. One important thing to take into consideration: if you’ve already received Social Security benefits, you’ll have to give back everything you’ve received up until you’ve withdrawn your claim.