30% of Pre-Retirees Say Knowing When to Claim Social Security Is a Challenge. Here's How to Navigate That Decision.
Social Security serves as a critical source of income for millions of retired Americans. Without those benefits, many seniors would simply not be able to cover their bills and get the healthcare services they need.
That's why it's so important to file for Social Security at the right time. While the monthly benefit you'll end up collecting in retirement will hinge largely on your personal wage history, your filing age will also determine how much money you'll get.
In a recent Edward Jones survey, 30% of pre-retirees identified "determining the ideal timing for taking Social Security benefits" as a top financial challenge in the context of retirement planning. And not so shockingly, 31% of current retirees said they faced the same challenge.
Source Fool.com
