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Why so many Americans leave Social Security money on the table
Yahoo Finance • • business
Key Points:
- Health status is a crucial factor in deciding when to claim Social Security benefits; those with heart conditions or a family history of early death may benefit from claiming earlier.
- If you are in good health and have a family history of longevity, delaying Social Security benefits might be advantageous.
- Financial planner Cade Bekanich advises considering how you will fund retirement if you delay benefits, assessing the stability of other income sources, and evaluating your health conditions.
- It's important to determine whether claiming benefits early at a lower rate will affect your ability to maintain your lifestyle in the future.
- Kerry Hannon, a retirement strategist and author, emphasizes thoughtful planning and staying informed about economic news to make the best Social Security decisions.
