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OPEN  Enhancement #1057  -  Three Strategies to Boost Your Monthly Checks
Posted May 16, 2020 - updated May 16, 2020
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Issue details
  • Type of issue
    Enhancement
  • Status
     
    New
  • Assigned to
    Not assigned to anyone
  • Progress
       
  • Type of bug
    Not triaged
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  • Posted by
     Chris Mcdonald
  • Owned by
    Not owned by anyone
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    No time spent
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Issue description
Social security benefits are designed to replace forty percent of the pre-retirement income; however, many retirees depend on their benefits to cover most of their bills. Most of the individuals retired, depending on their retirement checks, according to the social security administration. For these individuals, a lot is riding on social security, which can make or break your retirement plans.

Whether you rely on your social security benefits to make ends meet or you only want to increase the size of your checks, described below are some strategies that can help you to be successful.

Delay claiming benefits 

One significant factor that can affect the size of the check is the age you claim it in. If you claim your check in the full retirement age, which is 67 years, you will receive the benefits you are eligible for.

However, if you want to collect a check that can afford your bills and extra payments, then you can delay claiming your benefits until after the full retirement age. This retirement bonus can be generous with an extra twenty-four percent each month if you wait to claim it at the age of seventy. If your age for retirement is before 67, then you can receive even a bigger check for your social security benefits. With this notion, it is important to keep in mind that if you wait beyond seventy, you won’t receive any extra benefits by doing so.

Chris Mcdonald is a founder of CompleteConnection blog. His passion is always helping people in all aspect of online marketing and business. You can also wrtite for us technology articles.

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