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How delaying Social Security can get you a bigger check
Despite the fact that a majority of Americans claim their Social Security benefits before they reach their full retirement age (or “FRA”), delaying your application beyond your FRA will earn you delayed retirement credits to the tune of 8% more for each year you delay. That means you could be collecting a lot more money over your lifetime if, of course, you live long enough. Delaying is a good strategy for some but there isn’t a one-size-fits-all solution when it comes to deciding when to start your benefits. This Motley Fool article by Matthew Frankel explains that delaying Social Security can get you higher income for life, but it isn’t for everybody. Click here to read more.
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