Social Security sounds simple. You work, you retire, and at some point you begin receiving a monthly check. In reality, the rules are more nuanced than most people expect. The age you choose to start receiving Social Security benefits can affect how much you receive each month, how long your retirement savings last, and how financially secure a surviving spouse…
Category: Social Security
Maximizing Your Social Security Payout
You can start drawing Social Security benefits any time between the ages of 62 and 70. The longer you wait to start, the greater your monthly benefit. If you start at age 62, you get about 75% of your retirement benefits; and if you wait until age 66, you get 100%. But if defer for the maximum period, until age…