Using Savings Early to Boost Benefits Later
One of the biggest decisions in retirement is deciding when to start collecting on Social Security benefits. The answer to this question is different for everyone as everyone’s situation will be unique to themselves. One proposed answer is to live off of retirement savings for as long as you can afford to, maybe even supplement it with extra work or by cutting back a bit to make ends meet. This ensures that you will have higher benefits when you decide that you can’t or don’t want to work any longer and rewards you with higher monthly payments from Social Security for the rest of your life. For more information visit this article by Sheyna Steiner with BankRate.
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