2 Reasons Why a Delayed Retirement Could Be Your Ticket to More Social Security
Some people decide at a certain point during their career that they want to retire at a specific age, and boom -- that decision is set in stone. There's nothing wrong with aiming to retire at a certain point in time. But you should know that in some cases, delaying your retirement by even a couple of years could have a big impact on your Social Security income. Here's why.
The monthly Social Security benefit you're eligible to receive in retirement will hinge on how much you earn during your 35 highest-paid years in the workforce. But some people end up taking extended career breaks for a variety of reasons -- to raise children, care for aging family members, or go back to school to facilitate a career switch.
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Source Fool.com
