3 Surefire Ways to Grow Your Social Security Paycheck
Maurie Backman notes that the money you save for retirement in an IRA or 401(k) plan could run out at some point. Social Security, however, is guaranteed to pay a monthly benefit for life. For this reason the higher a paycheck you score, the more financial security you’ll buy yourself, no matter how long your retirement lasts. To do this, Backman advocates boosting earnings with a side gig. Second, she says delay your filing as long as possible (to age 70 if feasible). Third, correct errors on your yearly earnings statements. Folks should go on-line regularly to view theirs. Full 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.