This Technique for Boosting Social Security Benefits Got Less Powerful in 2024
Increasing your Social Security benefits can be a great financial move. These benefits are guaranteed to last for life, so you won't have to worry they'll run out before you die. Plus, they have built-in Cost of Living Adjustments, which means your spending power should keep pace with inflation (or at least come close to it).
Historically, one of the best ways to increase your monthly benefit was to wait to claim it. And that's still a good option. Unfortunately, you no longer have as many opportunities for increasing your standard benefit as earlier retirees did, and future retirees will have even less chance to get a bigger check. Here's why.
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Source Fool.com
