This Could Be the Easiest Way to Boost Your Social Security Benefits

Social Security isn't designed to support seniors by itself. But if you're nearing retirement without any savings, those benefits could end up having to do just that. As such, it pays to get as much money from Social Security as you can, and filing as late as possible is a guaranteed way to give your benefits their maximum boost.

Your Social Security benefits are determined based on your 35 highest-paid years of earnings on record. The age you claim those benefits at, however, could impact the actual amount you collect each month.

The Social Security Administration will allow you to file for benefits as early as age 62. However, you're not eligible to collect your full monthly benefit until you reach full retirement age (FRA). That age, depending on your year of birth, is either 66, 67, or 66 and a specific number of months. If you claim benefits before FRA, they'll be reduced by a certain percentage, the extent of which will depend on how early you file.

Quelle Fool.com