Chances are, you’re handling Social Security all wrong. A staggering 97% of eligible people are making a costly mistake—one that could be draining tens of thousands of dollars from their retirement funds.
I’m here to help you avoid this mistake by sharing some essential facts and figures…
…especially those that Social Security might not be keen on you knowing.
If you’ve been planning your retirement for a while, Social Security is probably a part of that strategy.
But have you set a specific date to start collecting your Social Security benefits, or reviewed which benefits you qualify for?
It might seem straightforward, but few people make these decisions the “right” way.
The best-kept secret to securing a higher Social Security payout for the rest of your life is to wait until age 70.
By holding off until 70, you’ll enjoy a 76% larger payout than if you started collecting benefits at age 62!
Yet, a surprising 97% of people don’t wait and miss out on maximizing their benefits.
Now, let’s be clear: in some cases, claiming benefits before 70 can be the right choice, but it’s not typical.
More often, people claim early because they…
A) believe they need the cash right now,
B) feel eager to get “their share,”
C) haven’t done enough research, or
D) decide to collect rather than find a new job after being laid off—even though that choice can cost them thousands over time.
Many people overlook the fact that life expectancy is increasing.
Misjudging this critical number can severely impact your retirement plans, especially since the “break-even” age—where collecting at 62 versus waiting until 70 balances out—is only in your early 80s.
I urge you, unless there are exceptional circumstances, to be part of the 3% who wait to claim Social Security until they can receive the maximum benefit!
TIP: There’s no advantage to waiting beyond age 70. Your payout won’t increase, and you’ll only be forfeiting money you’re eligible to collect.
