9 Moves to Boost Your Retirement or Even Retire Early!

9) Delay Taking Social Security If Possible

Social Security is a great system that can be extremely helpful for people as they age. But if you start taking your payments early, you will get less money per year. Therefore, if you can get by without it, you are better off waiting to take it. If you wait a few extra years after retiring, you will get more money when you really need it. Once you hit 70 though, the benefit will not increase further. So, if you are in good health and have income or savings, delaying until that age is your best option. If you are unable to put it off that far, even an additional year or two past 62 can raise your check. According to Merrill Lynch Investment Management & Guidance, as of 2016, the benefits ranged from $18,000 annually when first taken at age 62 to over $31,000 when taken at 70.