Expert advice: Don’t retire until you’re 70
In this CNBC “Make It” article by reporter Emmie Martin, the author relates advice from well-know financial advisor Suze Orman that delaying retirement and postponing Social Security benefits is a wise choice for today’s seniors. Given that you gain a guaranteed 8% annual increase in your Social Security benefit amount once you reach your full retirement age, a strong case can be made for that strategy. Reality is that if you wait until age 70 your Social Security benefit amount will be about 75% more than it would be if you collect it at age 62 when you’re first eligible, and that’s a pretty good incentive to follow Suze’s advice. Click here to read more.