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How to Increase your Social Security benefit
For most Americans, Social Security will play an important, if not crucial role in their retirement plan, so it makes a lot of sense that getting the largest benefit possible should be a part of your retirement planning process. The rules are actually pretty simple – claim before your full retirement age and your benefit will be smaller; claim later than your full retirement age and your benefit will be bigger (your full retirement age is 67 if you were born in 1960 or later, or 66 plus some number of months if born before 1960). But especially if you’re just now approaching age 62, it will serve you well to heed the advice given in this Motley Fool article by Katie Brockman, which you can read here.
Also, if you’re unsure about your individual situation under Social Security or have questions about your personal benefit entitlements, note that the AMAC Foundation provides an independent free-to-the-public Social Security Advisory service to help Americans navigate the complexities of this program. Learn more about it here…
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