9 ways to ‘life hack’ your way to larger Social Security benefits
Robert Powell writing in USA Today writes about how to optimize Social Security monthly benefits. While not rocket science, Americans pay too little attention to such an important issue or worse, make devastating mistakes when signing up. The 9 “life hacks” (or pieces of advice) are these: 1. Earn income for 35 years; 2. Delay benefits as long as possible to age 70; 3. Use an online calculator; 4. Determine your life expectancy; 5. Undo Social Security benefits if need be (12 months to do so); 6. Suspend payments; 7. Restrict your Social Security application; 8. Coordinate your benefits with a spouse; 9. Learn how Social Security works. Full piece here.
To the last point, 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.