15 Ugly Truths About Retirement

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You Could Lose Out by Mistiming Your Social Security Benefits

Start taking Social Security payments before your full retirement age, and you’ll permanently decrease your monthly payment. Wait until age 70, and you’ll get more money with each check.

Still, that doesn’t mean one strategy is always best, particularly when you factor in spousal and survivor benefits. Fortunately, several Social Security optimizers that can help you figure out the best time to start taking Social Security benefits — such as the Quicken Social Security Optimizer — exist online.