Money expert Clark Howard has always advocated waiting to take Social Security. When you wait to take Social Security, you receive a much larger benefit than you would if you took it as soon as you can. Read more about when to take Social Security here: ***** For information on how you can save money every day visit Clark.com Like us on Facebook: Follow us on Instagram: Follow us on Twitter: Follow us on Pinterest: ...(read more)
LEARN MORE ABOUT: IRA Accounts
CONVERTING IRA TO GOLD: Gold IRA Account
CONVERTING IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
Clark Howard, a renowned personal finance expert, has weighed in on the topic of delaying your social security benefit. Howard is known for his plain-spoken approach to financial matters, and his take on the issue is no different - he advocates for delaying your social security benefit for as long as possible. The reason for this, according to Howard, is that delaying your benefit can have a significant impact on the amount of money you ultimately receive from the government. In general, the longer you wait to start collecting your benefit, the larger the monthly payments you will receive. For example, if you were born in 1954 and started collecting at age 62, your monthly benefit would be around $1,800. However, if you waited until age 70, your benefit would increase to around $3,000 per month. Howard argues that delaying your benefit is particularly advantageous if you are in good health and expect to live a long life. This is because the increased monthly payments you receive from delaying your benefit can more than make up for the years of payments you missed by waiting. For example, if you delayed your benefit until age 70 and lived until age 90, you would receive roughly the same amount of money as someone who started collecting at age 62 and lived until age 82. There are, of course, some downsides to delaying your social security benefit. For one thing, you will have to wait longer to receive any payments from the government. This can be challenging for some people, particularly those who are struggling financially. Additionally, there is always the risk that the government could revise the social security system or change the rules around collecting benefits in a way that undermines the value of delaying your benefit. Despite these potential downsides, Howard believes that delaying your social security benefit is a smart financial move for most people. To make the most of this strategy, it's important to carefully consider your personal circumstances and consult with a financial advisor if you're unsure about what to do. With a little bit of planning, delaying your social security benefit can help you maximize your retirement income and achieve long-term financial stability. https://inflationprotection.org/clarks-perspective-on-postponing-your-social-security-benefit/?feed_id=82755&_unique_id=642516a1f284a #Inflation #Retirement #GoldIRA #Wealth #Investing #clarkhoward #money #personalfinance #receivingsocialsecurity #shoulditakesocialsecurityat62 #shoulditakesocialsecuritynoworlater #socialsecurity #socialsecuritybenefits #socialsecuritypayments #takingsocialsecurity #waitingtotakesocialsecurity #whencanItakesocialsecurity #WhenshouldItakesocialsecurity #whentotakesocialsecurity #whentotakesocialsecurityretirementbenefits #SpousalIRA #clarkhoward #money #personalfinance #receivingsocialsecurity #shoulditakesocialsecurityat62 #shoulditakesocialsecuritynoworlater #socialsecurity #socialsecuritybenefits #socialsecuritypayments #takingsocialsecurity #waitingtotakesocialsecurity #whencanItakesocialsecurity #WhenshouldItakesocialsecurity #whentotakesocialsecurity #whentotakesocialsecurityretirementbenefits
Comments
Post a Comment