Preparing for Retirement? Here's Exactly How to Boost Your Monthly Social Security Payout.
Social Security is an important income source for a lot of older Americans today. And chances are, once you retire, you'll rely at least somewhat heavily on those benefits to cover your living expenses.
As such, it's important to do what you can to snag as high a monthly benefit as possible. That's the benefit you'll receive for life (not accounting for cost-of-living adjustments), so the more generous it is, the more comfortable a retirement you can look forward to. These simple strategies, thankfully, could set you up with that higher payday.
If your goal is to boost your Social Security benefits, there's perhaps no simpler way to go about it than by delaying your filing past full retirement age (FRA). FRA is when you can receive your monthly benefits in full, but for each year you hold off past that age, up until age 70, those benefits grow 8%.
Source Fool.com
