Map out Social Security retirement plan

Why Some Retirees Lock In Smaller Social Security Checks — and How to Avoid It

If you haven’t tapped your Social Security benefits yet, you may be able to boost how much you’ll get from the government over your lifetime. Making a few small tweaks can increase your payouts by hundreds or even thousands of dollars. Here are five steps you can take. 1. Work an extra year or two The Social Security Administration uses your lifetime earnings, claiming age and cost of living adjustments to determine your benefits. The longer you…

Map out Social Security retirement plan

If you’re paying Social Security taxes, figure what your future benefit may be. The agency's webpage, www.ssa.gov/retirement, can help map out your retirement plan.