Delaying Social Security? Here's How Long Average Retirees Take to Break Even
Putting off a claim for Social Security benefits is often advisable because waiting to get your first check can increase your monthly payment substantially. In fact, you can earn hundreds of dollars more per month if you delay long enough.
But while it may make sense for some people to wait, it's not the right choice for every senior. Putting off a benefits claim obviously means foregoing the chance to get checks for months or even years. You'll want to make sure you break even for this missed money in order for late filing to make sense.
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Source Fool.com
