3 strategies to maximize Social Security benefits
As Selena Maranjian notes, Social Security income alone is not likely to be sufficient for most retirees. The average monthly retirement benefit is $18,500 per year, or $1,547 per month. That’s why it’s important to maximize those benefits for life. the easiest way is to delay the start date. Coordinating with your spouse is also important. Finally, she explains how to minimize taxes, which indeed are due for all but the lowest income beneficiaries. Full details in this piece here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.