The decision to pass up larger monthly Social Security payments is a deliberate one - ASPPA
Although Social Security is the primary source of income for the majority of Americans, just 10 percent of non-retired Americans ages 45 and older are planning to wait until age 70, according to Schroders’ 2021 U.S. Retirement Survey. Waiting until age 70, the age at which an individual reaches their maximum monthly Social Security benefits is a deliberate decision. Seventy-four percent of non-retired survey respondents understand that the longer they wait to begin their Social Security benefit, the more they will receive. Ted Godbout reviews the results and why only a minority of Americans will wait to 70 to start their Social Security. Read Mr. Godbout’s article here…
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