Social Security Report

Only 10 percent of Americans plan on maximizing their Social Security benefits - Yahoo!Finance

A fraction of non-retired workers ages 45 and up say they plan to wait until age 70 to begin drawing Social Security. In the recent Schroders’ 2021 U.S. Retirement Survey, only 10 percent of the respondents said they plan on waiting until 70 to maximize their Social Security benefits. Joel Schiffman, Schroders’ head of Intermediary Distribution, North America, said they were “surprised to see so many deciding not to wait until 70 for larger monthly payments considering Social Security is the primary source of income for the majority of Americans we surveyed.” Mr. Schiffman continued, “even worse; many will be sacrificing their full benefits by tapping into them early.” Dawn Allcot’s article appearing on www.finance.yahoo.com reports on the outcome of the survey. Read Ms. Allcot’s article here…

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