The One Social Security Trap I Refuse to Fall Into

I was recently talking to a former colleague who plans to retire very soon. When I casually asked him if he planned to work in any capacity during retirement, his answer was an adamant no.

But I happen to know that he doesn't have much to his name in retirement savings. And because of this, I'm really worried for him.

Like many seniors today, my former colleague plans to get the bulk of his retirement income from Social Security. Now, on the plus side, because he earned a decent salary during his career, he's eligible for a larger benefit than the average recipient. He's also retiring on the later side and hasn't yet signed up for benefits, so he'll get a boost for delaying his filing.

Source Fool.com