20 Financial Considerations for Retirement
4. Account for the Social Security Benefit
For American retirees, it is not uncommon for people to not realize exactly how much money they will receive from Social Security once retired. Assuming no major changes by Congress in the short term, the current Social Security benefit forecast is mailed to adult workers every year for review. The amount of money that one can receive varies between ages 62, 65, and 70. Depending on one’s work and marital status, and health, the right time to being claiming the benefit will vary depending on the specific situation.
