Just because you can take Social Security at 62 doesn’t always mean you should. For every year you delay claiming benefits up to age 70, your benefit increases by about 8% per year. Waiting from 62 to 70 could increase your monthly income by roughly 75%, and future cost of living adjustments are based on that higher amount too. A Social Security claiming strategy can make a major difference in retirement income over time. #SocialSecurity #RetirementPlanning #FinancialEducation #foryoupage #fyp
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Just because you can take Social Security at 62 doesn’t always mean you should. For every year you delay claiming benefits up to age 70, your benefit increases by about 8% per year. Waiting from 62 to 70 could increase your monthly income by roughly 75%, and future cost of living adjustments are based on that higher amount too. A Social Security claiming strategy can make a major difference in retirement income over time. #SocialSecurity #RetirementPlanning #FinancialEducation #foryoupage #fyp
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