This Simple Math Helps You Decide When to Take Social Security
Social Security provided $955 billion in benefits to 62 million seniors in 2017 , and more than one-third of Americans expect Social Security to provide the bulk of their retirement income. While Social Security is a popular and important entitlement program, it's a far more complicated program than many people realize.
There are a lot of misconceptions surrounding Social Security, and many of the misunderstandings center on when it's best to claim benefits. Your monthly income from Social Security is permanently affected by the age at which you begin receiving benefits, so you'll want to be strategic about when you get your first Social Security check.
This simple math will help you decide how to maximize your benefits by claiming Social Security at the age that makes the most sense for you.
Source: Fool.com
