A solid retirement plan includes setting clear goals, saving enough to cover expenses, diversifying investments and taxes, and having an estate plan. Making informed decisions about Social Security is also key to maximizing your benefits based on your personal situation.
Nicholas Ockenga shared some insights on how Social Security works for the average American. While "most Americans' 'full retirement age" benefit is around age 67,' he explains that you don't have to retire at this age. Nicholas notes that "Social Security is complex, and it’s important to do your research before deciding whether to take advantage of it." Everyone's situation is different, and what works for one person may not be the best option for another.
"The single best way to maximize your Social Security benefit is to make your Social Security planning case specific to you and lean on the guidance of experts in financial planning who can help you weigh the pros and cons of your options."
Interested in learning more? Check out the full MoneyGeek article here.
This website uses cookies. By accepting the use of cookies, this message will close and you will receive the optimal website experience. For more information on our cookie policy, please visit our Privacy Policy.
