11 Retirement Hacks to Help Your Money Last

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8) Delay Claiming Social Security

The earlier you claim your Social Security benefits, the less money you receive. If you claim full benefits too early, then your benefits will be reduced. A calculation is used and early-retirees receive what can be seen a penalty for accessing their funds early. This can affect the entire future of your benefits, so delaying (if possible) is the best bet. The longer you wait to claim the benefits, the more money you’ll receive every month. But how do you delay when you’re ready to stop working full time? There are several ways. One is to stick it out a few more years to delay claiming and to further build your funds. Another is to retire at the proper age and claim your rightful benefits while also working a part-time job. This will help you use less of your savings by supplementing your income.

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