Boost Your Social Security Income with These 3 Lesser-Known Strategies
Tuesday, 23 July 2024, 11:00
Understanding Social Security Strategies
The Social Security Administration provides various options for beneficiaries to optimize their monthly payments. Here are three crucial strategies:
- Delay Benefits: By postponing your retirement benefits past the full retirement age, you can increase your monthly payments.
- Spousal Benefits: Consider claiming spousal benefits if your partner's earnings were higher, which may provide a larger sum.
- Taxable Income Strategies: Managing your taxable income can help you retain more of your Social Security benefits.
Conclusion
Utilizing these strategies can lead to significant financial advantages, helping you secure a more comfortable retirement. Consult with a financial advisor to tailor these techniques to your specific situation.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.