The Dangers of Waiting too Long to Collect Benefits
One of the biggest draws to putting off collecting on Social Security is the promise of bigger monthly checks. While it is true that each individual check will be larger, you may not end up getting any more money in the long run. These checks are based off of the average life expectancy and the monthly checks are adjusted to reflect the average amount of money that the Social Security Administration expects to have to pay out to each individual. This being an average means that some may pull out ahead but others may end up receiving less in their life time. For more information on this topic visit this article by Brian Feroldi with The Motley Fool.
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