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Regret taking Social Security early? Here’s a mulligan that may work for you
It’s pretty well known that Baby Boomers are retiring in record numbers, and many have chosen to start their retirement benefits early. But that choice to apply early means that they’ll see a significant reduction in their benefit amount, compared to what they could have received by waiting a little longer. For those who might regret starting benefits too soon, Social Security has a “do-over” option, a “mulligan” in golfing parlance, which allows a person to withdraw their application within one year of applying. Of course there are some consequences of exercising the option, but the reward could be a bigger benefit check for the rest of your life, as this article by Sean Williams of The Motley Fool explains. Click here to read more.