Social Security Report

Q & A

How Does Social Security’s Lump Sum Option Work?

Answer: If you wait until after your full retirement age to claim your Social Security retirement benefits, there is a little-known rule that could entitle you to a large chunk of cash all at once. This provision enables retirees who meet this requirement to receive up to six months of retroactive benefits in one lump sum. Sound appealing? While this option may be a great choice for some, there are several things to consider before you go for it — namely its impact on your future benefits. Read more…

Source: http://www.thestreet.com, November 7, 2013

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