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Suspending Benefits Can be a Useful Option for Some
There are situations where a Social Security recipient has claimed, out of necessity, benefits before full retirement age only to reach a subsequent point where the need for a cash infusion has been offset by income from another source. In this situation, suspending the monthly benefit and allowing it to grow via delayed retirement credits may be viable. The Social Security rulebook has a provision to help out in this situation, but some guidelines must be followed. A post by CNET.com’s Blake Stimac outlines this option, its limitations, and its impact on other beneficiaries drawing on your work record. Check the post out here.
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