Many companies are doing away with pensions, eliminating a valuable income stream for many retirees.
The stock market has been very volatile the past few years. While Americans will need to increase their retirement nest eggs considerably to make up for the lack of pensions, the large declines in the stock market in the past decade show us that you can’t rely solely on your investments.
Which makes getting the most out of your Social Security retirement benefits more than ever. The Social Security Administration reports that approximately 73% of the people currently receiving Social Security retirement benefits applied for their benefits as soon as eligible, therefore drawing reduced benefits.
Since Social Security is such a large portion of the retirement income that most people receive, you need to maximize the benefits you receive. In this blog we’ll discuss the different benefits available under the Social Security program, how to qualify for benefits, when to apply, and more strategies to help you get the most out of your benefits.