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Creating a Social Security bridge
One of the most important and possibly stressful decisions many retirees must make is when to begin receiving Social Security benefits. The experts generally agree that waiting until age 70 to claim benefits is possibly the best way to maximize your monthly benefit; however, that may not be possible for some people. In a new issue brief from the Center for Retirement Research at Boston College, the topic of simplifying this decision-making process is explored. For example, one idea would be to use 401(k) proceeds for a bridge to further defer Social Security benefits to a later age to maximize the amount received. To learn more about the concept of a Social Security bridge, click here…
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