Only 23% of Older Workers Are Considering This Smart Social Security Strategy
Millions of retirees depend on Social Security benefits to make ends meet during their senior years. The average Social Security recipient receives just over $1,500 per month in benefits, and nearly one-quarter of married couples and close to half of unmarried beneficiaries rely on this money for at least 90% of their income in retirement, according to the Social Security Administration.
However, Social Security is facing serious financial challenges that have only been exacerbated by the coronavirus pandemic, so you may not be able to depend on your benefits as much as you expect to in retirement. That means it's wise to take action now and start planning for how you'll maximize your monthly checks -- but few older Americans are planning to take advantage of this one benefit-boosting strategy.
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Source Fool.com
