In general, it is better to wait as long as possible before taking Social Security benefits, but sometimes it is necessary to start taking benefits early. However, if you are able to continue working while receiving benefits, you may be able to increase your overall benefit. For more information on how work affects Social Security call Strohschein Law Group. We help clients everyday plan for the future. (630) 377-3241
Strohschein Law Group hosts lunch and learns in-house every quarter. Coming up on Tuesday, October 20th Linda Strohschein will be presenting on this very topic “Social Security Benefits.” She will explain your options if you are teetering on taking benefits at the age of 62 or waiting until retirement age, as well as spousal benefits. Find out how to maximize your lifetime benefits.
While there are four basic options for collecting benefits, there are ways to combine these choices to provide even more options. Here are three of the top strategies that you can use to maximize your Social Security benefits.
One little-known Social Security retirement benefits rule is the so-called “do-over rule.” Under this rule, an individual 62 years or older can start collecting benefits but stop the benefits within 12 months of the start, repay the benefits collected, and then still be eligible for their higher benefit amount when they collect at full retirement age or older.