3 Strategic Social Security Moves That Will Leave You Richer

You'll often hear that Social Security can't fund your retirement alone, and that's true. Those benefits will generally replace about 40% of your pre-retirement wages if you're an average earner, and most seniors need 70% of their former income or more to live comfortably. But still, it does pay to get as much money out of Social Security as you can, and these moves can help you do just that.

Age 62 happens to be the most popular age to sign up for Social Security, and it's the earliest age you're allowed to do so. But if you claim benefits at 62, you're guaranteed to slash them for life. If you're willing to take that hit in exchange for getting your money early, so be it, but if you want to secure a much higher monthly benefit, don't file before reaching full retirement age, or FRA.

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Source Fool.com