4 tools to help maximize your Social Security benefits
Choosing when to collect your Social Security benefits can have a large impact on your standard of living in retirement, especially if you didn’t save enough on your own. According to the Social Security Administration, Social Security benefits represent 30% of retirement income for the elderly. Deciding when to collect is a complicated task — you’ll have to consider factors like your spouse, your other sources of retirement income, your health status and the cost of Medicare deductions.
Online tools, however, exist to make that task a little bit easier. There are a number of free and paid services out there to help people figure out when to collect their benefits.
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