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But before you do, you may want to rethink your decision and how it may affect your wallet.
Every year, millions of retirees unknowingly leave money on the table.
Here are four signs you might be missing out on theSocial Security benefits you deserve.
Youre Ignoring Spousal Benefits
Many Americans dont know that they could qualify for Social Security spousal benefits.
However, like regular benefits, claiming before your FRA could result in a benefits reduction.
Consider filing for Social Security spousal benefits if your benefits are lower than half of those of your spouse.
Spousal benefits can also boost your retirement income if youve never worked or have had limited income.
This is something many people dont realize until its too late.
An incorrect earnings record could lead to a smaller monthly check for life.
If the numbers dont match, that could be an error you should report to the SSA.
check that you fix all earnings record errors before filing.
If your benefits outgrow those of your late spouse, you’ve got the option to switch.
However, keep in mind that collecting the benefits before your own FRA is subject to reduction.
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