US Retirees Are Not Waiting Until Age 70 to Collect Social Security

US Retirees Are Not Waiting Until Age 70 to Collect Social Security

The US government is not hiding the fact that the longer you wait to collect Social Security, the more money you collect. In fact, the concept is quite simple.

Here’s the deal, straight from the US Social Security Administration.

If you start receiving retirement benefits at age . . .

  • 67, you will receive 108% of the monthly benefit because you have delayed receiving benefits for 12 months.
  • 70, you will get 132% of the monthly benefit because there was a delay of 48 months in receiving benefits.

Pointing out that there seem to be headwinds to accumulating income in retirement, an issue that is close to the pensioner’s heart and that she holds dear.

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