Social Security Strategies: When to Claim and How to Supplement Retirement Income
A recent survey by Schroders reveals that nearly half of working Americans plan to claim Social Security benefits before reaching their full retirement age (FRA) of 67. The survey highlights reasons such as immediate financial needs and concerns about the program's longevity. Delaying benefits until age 70 can maximize payouts, but only a small percentage of respondents intend to wait. The decision on when to claim Social Security is influenced by factors like personal savings, employment status, and life expectancy. The article also discusses strategies to supplement Social Security income, including retirement accounts like 401(k)s and IRAs. 
