Social Security serves as the foundation of most Americans' retirement plans. When it comes time to claim your benefits, your eventual monthly check will be based on the income you earned throughout your career and the age at which you start taking benefits. You can claim retirement benefits starting at age 62, and your monthly benefit grows the longer you wait, up until you reach age 70.
Traditionally, the full retirement age where you would receive your scheduled benefits was 65, which made that a great target age for claiming benefits. The rules have changed since the program started, and what may have made sense before doesn’t necessarily make sense today. With that in mind, here are five reasons to claim Social Security before 65, and five reasons not to.
The $16,728 Social Security bonus most retirees completely overlook
If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $16,728 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies.
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