Should You Get a Side Hustle While Collecting Social Security?

Whether you realize it or not, Social Security is likely going to be a vital source of income when you retire. Of today's retirees, 62% lean on their payout to account for half of their monthly income, with national pollster Gallup finding that 90% of current retirees count on their monthly stipend as either a "major" or "minor" source of income. Put in another context, just one out of 10 seniors could go without their Social Security payout right now without any financial concerns.

But this isn't just limited to those folks who've already called it a career. When Gallup polled nonretirees, a whopping 83% noted that they expect to be reliant on Social Security as either a "major" or "minor" source of income when they retire. That's only 1 percentage point below an all-time high for Gallup's annual survey.

With these statistics in mind, you can understand why choosing the right Social Security claiming age can be so important.

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Source Fool.com