3 Common Social Security Moves You May Regret in Retirement
Social Security can be a lifeline for many older adults, but your strategy can make or break your retirement. The average retiree collects just over $1,900 per month in benefits, as of February 2024, but certain decisions could heavily impact the size of your monthly checks. While there's no single correct approach to Social Security, there are a few moves you could end up regretting later in life.
Of all the factors influencing your benefit amount, the age at which you begin claiming is perhaps the most important. You can file as early as age 62, but for every month you wait (up to age 70), you'll receive larger payments.
There's no one-size-fits-all approach to when to claim benefits, but some ages may be better than others, depending on your situation.
Source Fool.com
