How Delaying Social Security Benefits Until Age 70 Can Increase Your Monthly Payments by $2,163
Maximize Your Social Security Income – Why Waiting Until Full Retirement Age or Beyond Can Add Up to $25,956 More Annually
According to the report of The US Sun, financial expert Shalae Morgan says delaying Social Security benefits can give you much more money each month. If you start taking benefits at age 62, you can get up to $2,710 a month. But if you wait until you reach full retirement age or even 70, you could get $3,822 or $4,873 a month, respectively.
Morgan explains that if you wait until age 70 to start your benefits, you could get $2,163 more each month, adding up to $25,956 more per year. She suggests waiting to start benefits to get the most money. Attending Social Security seminars or workshops can help you understand how to plan your retirement.
READ ALSO: $20 Million Refund Ordered: Pensacola City Forced To Return Franchise Fees To Gas Customers
$25,956 More per Year: The Surprising Benefits of Delaying Social Security Claims (PHOTO: Wealthtender)
Understanding Social Security Benefits – How to Maximize Payments for Retirees, Disabled Workers, and Families
Social Security helps not only retirees but also disabled workers, families of deceased workers, and others who qualify. Morgan stresses the importance of learning about your benefits and using available resources to make the most of your Social Security payments.
READ ALSO: $422 Million Prepayment: Illinois Comptroller’s Proactive Move To Boost Pension Fund Returns – Enhancing Financial Stability!
