How to maximize your Social Security benefits!


It pays to play the waiting game. Looking for a simple way to get the most from Social Security? Delay filing for benefits. That’s because you can’t collect 100 percent of what’s due until reaching full retirement age, which is 66 or 67 for most people. And your benefits will increase 8 percent a year until age 70 if you put off collecting even longer.

But what if you need the money before then? By starting benefits at age 62 instead of at full retirement, you’re agreeing to lower payments — between 25 percent and 30 percent lower — for the rest of your life.

So let’s say you’d receive a full retirement benefit of $1,500 a month at 66. If you claimed Social Security at 62, you’d get just $1,125. But if you waited until 70? You’d take home $1,980 a month. Imagine what you could do with that extra $855 each month.

Up to 80% of people make mistakes don’t get the benefits they’re entitled to because of simple mistakes.  Find out how to avoid these mishaps on page 5 of The Joy of Independent Living for Seniors.


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  • FC&A Staff Writer