This Social Security Strategy Is the Real McCoy for Higher Retirement Income
Survey after survey confirms that many U.S. workers are behind in their retirement savings. That's not a fun place to be. Without sufficient savings, you're likely to question when you can retire and what type of lifestyle you can support after you leave the workforce.
Padding your savings is a priority in this scenario, but there's another, complementary strategy to consider. It involves increasing your Social Security income. Higher Social Security income allows you to take lower annual draws from your retirement account. And taking less from your savings every year should help you stay solvent, longer.
Under current Social Security rules, you can push your benefit higher by increasing your average income. This isn't a quick fix. It's a strategy that works if you give it enough time.
Source Fool.com
