Before You Claim Social Security in 2021, Do This

If you're turning 62 in 2021, you may be tempted to sign up for Social Security. Similarly, if you'll be reaching full retirement age (FRA) in 2021 (which is the case if you were born in 1955), you may be ready to claim your benefits and start enjoying that money. Before you file for Social Security, make sure the time is really right to start collecting benefits.

Delaying your Social Security filing can benefit you a lot. If you're reaching FRA in 2021 and you're willing to delay benefits a bit, your benefits will grow by 8% a year up until the age of 70.

Image source: Getty Images.

Source Fool.com