More Retirees Are Making This Smart Social Security Move -- Are You?
During the 12-month period ending in September, there was a substantial increase in the number of people between the ages of 65 and 69 who retired, with around 5% more people leaving the workforce than during prior years.
While more seniors retired than in the past, fewer actually claimed Social Security. In fact, there was a 5% drop in the number of applications to start retirement benefits. This was the biggest decline in new benefits applicants in almost two decades.
The Washington Post, which analyzed this data, indicates there's likely a simple reason for these strange numbers: More retirees are leaving the workforce but are delaying their claims for Social Security and relying on other income sources instead. That's likely good news for these retirees, many of whom made a smart choice that should help them end up with more monthly and lifetime income.
Source Fool.com
