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Extra Retirees Are Making This Sensible Social Security Transfer — Are You? | Private Finance

Share this…FacebookPinterestTwitterLinkedin (Christy Bieber) In the course of the 12-month interval ending in September, there was a considerable enhance within…

By Staff , in Social Security , at November 26, 2021








In the course of the 12-month interval ending in September, there was a considerable enhance within the variety of individuals between the ages of 65 and 69 who retired, with round 5% extra individuals leaving the workforce than throughout prior years.

Whereas extra seniors retired than previously, fewer really claimed Social Security. In truth, there was a 5% drop within the variety of functions to begin retirement advantages. This was the largest decline in new advantages candidates in nearly 20 years.

The Washington Submit, which analyzed this knowledge, signifies there’s probably a easy purpose for these unusual numbers: Extra retirees are leaving the workforce however are delaying their claims for Social Security and counting on different earnings sources as an alternative. That is probably excellent news for these retirees, a lot of whom made a wise alternative that ought to assist them find yourself with extra month-to-month and lifelong earnings.

Picture supply: Getty Pictures.

Why is the choice to delay Social Security a wise one?

So, why is it a very good factor that extra persons are retiring with out claiming Social Security? There are two easy causes:

  • Delaying Social Security ends in bigger month-to-month earnings
  • It additionally maximizes the possibilities of incomes extra lifetime advantages



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