Bankroll Retirement with These 3 Social Security Strategies
Selena Maranjian explains that Social Security keeps more than 15 million people out of poverty and provides 50% or more of retirement income for more than a third of older beneficiaries. Thus it’s best to try to get the largest monthly check you can. The average monthly retirement benefit check is now $1,665 — or just $20,000 annually. The three basic keys are 1. to work longer (anything less than a 35 year history means a “0” in the benefit calculation; 2. earn more (perhaps work longer than 35 years to replace some early years where earning were minimal); 3. delay claiming, until age 70 if possible to get the max benefit. 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.