Be Careful With This Social Security Move for the Unemployed
With tens of millions of Americans still unemployed and the extra $600 per week in unemployment benefits having run out at the end of July, many struggling workers may be looking for extra cash any way they can get it.
If you're at least 62 years old and entitled to Social Security benefits, you may decide to begin claiming early even if you hadn't planned on retiring just yet. Claiming early will result in smaller checks, though, which may spell trouble for your retirement plans, especially if you're struggling to save and will likely depend on your benefits for a significant portion of your income in retirement.
However, there's one Social Security tactic that may help you make ends meet now while still maximizing your benefits later. While it can be helpful to some, it can be incredibly dangerous to others.
Source Fool.com
