5. You Can Afford To

We’ve said it once, we’ll say it again! Your Social Security benefits should supplement your retirement income in the form of savings, not the other way around. But what happens if you’ve got a comfortable nest egg? Surely it means you can avoid claiming early, right?

That’s true, but if your savings are solid and you’d like a little bit of extra cash to use for travelling or your hobbies, then there’s no reason you shouldn’t take the money as soon as you hit 62.

As long as you’re clever about how you spend it and aren’t making big-ticket purchases that could put you in a rough spot, we think it’s important to use the money if you can afford it.

Being responsible with your Social Security doesn’t mean you can’t use the benefits to have a little fun during retirement.