Do you want a 24% increase in your pension? Here’s How To Get It | Personal Finance

But if you want the financial security that comes with scoring a 24% pay raise for the rest of your life, then it makes perfect sense to defer benefits — just like making sacrifices to make that happen. Remember that the money you put in your savings is not guaranteed to grow or last. But if you wait to claim Social Security, that 8% annual increase is guaranteed. And that can give you the peace of mind you need to fully enjoy your senior years.

Of course, for some people, deferring Social Security isn’t possible. If you lose your job early due to health problems, you may need to apply for your benefits with FRA or even sooner. But it’s worth considering deferring Social Security outside of FRA – if not until age 70, then at least until an age that will give your benefits a nice boost and make you feel better about the idea that you no longer have a salary from your work.

The $16,728 Social Security Bonus Most Retirees Completely Overlook

If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “Social Security secrets” can give your retirement income a boost. For example, one simple trick can save you as much as $16,728 more… per year! Once you know how to maximize your Social Security benefits, we think you can retire with confidence with the peace of mind we all strive for. Click here to learn how to learn more about these strategies.

.

Leave a Comment