67-Year-Old Retirees to Receive $4,018 Check: In the United States, the process of social security payment is different, and each group has its own payment date. This group is divided in such a way that members of one group receive payment on different days than the other. This makes it clear that the date of … Read more
At such a time of retirement, an individual needs to maximize his/her Social Security Benefits. Effective plans can increase one’s monthly paychecks, enhancing financial security into old age significantly. Delay Taking Social Security Benefit The very best way one can increase income from Social Security is by postponing the onset of taking its benefits. While you are eligible to begin receiving benefits at age 62, waiting longer to apply will increase the amount of your monthly benefit. Every year past your full retirement age that you delay until age 70 increases your benefit. This may give you a huge increase in your monthly income, at retirement. Consider Working Longer or Part-Time Even if you only work part-time, you can extend your working years and positively impact your Social Security benefits. Additional years of earnings may replace lower-earning years in your benefit calculation, … Read more