2 Scenarios Where Claiming Social Security at 62 Is a Really Bad Idea
According to the latest monthly data release from the Social Security Administration (SSA), just over 42 million retired workers were receiving a benefits check from the SSA. Out of these more than 42 million seniors, the data shows that more than 25 million of them are reliant on Social Security for at least half of their monthly income. A history of poor saving habits and the wrong investment choices has left the current generation of retirees, and likely future generations, particularly reliant on Social Security.
This reliance on the program means that now, more than ever, workers and pre-retirees need to be focusing on the three factors they can control to maximize their monthly payout.
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Source: Fool.com
