- Collecting Social Security at age 62 can result in decreased income by as much as 30%.
- Waiting to take Social Security income past full retirement age can provide an 8% increase for every year you wait.
These amounts can make a big difference in overall income over the course of a 30-year retirement. This is why it's important to consider Social Security as part of your overall retirement plan and include annuities to provide additional lifetime income.
If you'd like a review of your situation, please contact Great Lakes Insurance & Financial Services Agency at 888-883-5290 or email Kinzie@GLIBrokers.com