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Use Social Security To Multiply Your Retirement Savings
Jamela Adam notes that $1,827 per month is the average Social Security retirement benefit in 2023. With the right strategy, recipients can use these funds to multiply their retirement savings and achieve the comfortable retirement lifestyle they desire. Adam has these five tips: 1. Delay claiming benefits until age 70 to maximize the payout for life; 2. Understand Spousal benefits and timing; 3. Be aware of earning considerations (reconsider retiring early if it’s the height of your career and pay); 4. Maximize Other Retirement Savings Vehicles; 5. Consult a Financial Planner. Full article here.
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