Ready to Collect Social Security? Don't Sign Up Until You Make This Key Move
Older Americans routinely rely on Social Security to cover their living costs in retirement. Chances are, you're planning to do the same.
When it comes to signing up for Social Security, you have options. You could file at your precise full retirement age (FRA), which is either 66, 67, or somewhere in between, depending on your year of birth. You could also sign up for benefits early if you're willing to accept a lower monthly payday in the process. The youngest age to file for Social Security is 62.
On the flipside, you can opt to delay your Social Security filing past FRA. For each year you do, your benefits will grow by 8%, and you'll get to enjoy that increase on a permanent basis.
Source Fool.com
