By: Mary Jones
Social Security benefits stop paying at your death, so if you die prior to collecting benefits, you'll have missed out on benefits entirely. You need to figure out how to maximize your Social Security income, instead
– Employee and compensation levels are maintained, The government incentivizes waiting to collect your Social Security benefits by giving you a larger monthly amount the longer you delay.
There are some debts you need to tackle before you retire. If you have high-interest debt, claiming Social Security early can help you pay the debt down.
If you get laid off at 62, however, and have difficulty finding another job, you might need to start taking your benefits just to get by.
you claim Social Security prior to your full retirement age while still holding down a part-time job, you might have your benefits reduced
surviving spouse, minor or disabled child can receive money from the Social Security Administration based on the amount of your benefits.
Your Social Security benefits are based on your earnings in the 35 years that you had the most compensation
consider the inflation rate, the rate your benefits increase and how much you can expect to earn in your portfolio
Social Security benefits could provide enough income to let you launch your business. And if your business is successful
Some people are concerned about potential Social Security changes in the future, such as higher retirement ages, lower benefits or higher taxes on benefits
keep in mind that you’d have to wait four years to get that extra $250 per month. You would receive $36,000 during those four years at the reduced amount of $750 per month.