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This year marked the so-called Peak 65 Zone, the biggest wave of Americans turning 65.
More than 4.1 million Americans will turn 65 each year through 2027, according to the Retirement Income Institute.
Transitioning to a fixed income is no small feat and can be quite challenging.
Here are someSocial Security tips for new retireesin 2025, according to experts.
However, its also important to keep in mind that every scenario is different, some experts noted.
In 2024, there was a 3.2% increase, according to theSocial Security Administration.
For 2025, were expecting a more modest COLA due to slower inflation, Sexton said.
This means you might see a smaller increase in your benefits compared to previous years.
Another point is that many retirees underestimate the power of the COLA provided by Social Security.
Delaying the start date of benefits gives you a larger starting base, she said.
Each increase now has more horsepower.
This provides an effective way to build inflation protection into your retirement plan.
Strategic planning here can help ensure your money lasts as long as you do, he said.
And if youre married, the strategy becomes even more important.
Coordinating when you and your spouse claim benefits can lead to a significantly higher household income over time.
This balance can help cover current expenses while ensuring a larger income down the road, he added.
According to her, too many calculate a break-even age as if they were single.
Remember, retirement is a marathon, not a sprint, he said.
Taking the time to plan now can lead to a more comfortable and secure retirement later on.
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