American retirees don't wait 70 years to collect Social Security

American retirees don’t wait 70 years to collect Social Security

The US government makes no secret of the fact that the longer you wait to collect Social Security, the more money you collect. In fact, the concept is quite simple.

Here’s the deal, straight from the US Social Security Administration.

If you start receiving retirement benefits at age . . .

  • 67, you will receive 108% of the monthly benefit because you delayed benefit payments by 12 months.
  • 70, you will receive 132% of the monthly benefit because you delayed benefit payments by 48 months.

To refuse this windfall seems contrary to the accumulation of retirement income, an issue that is generally dear to the heart of a retiree.


#American #retirees #dont #wait #years #collect #Social #Security

Leave a Comment

Your email address will not be published.