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Heres why one retireeisnt taking Social Security until after 2025.
I dont think so.'
And shes not alone.
Thats not the worst of it, either.
The COLA for 2025 is projected to be just 2.6%.
I guess I just figured Id be better off waiting to see if things improve, Sue shared.
Im doing okay financially so why not?
For retirees like Sue, its the unwelcome houseguest that keeps eating all the snacks and refuses to leave.
Maximizing Benefits: The Waiting Game That Pays Off
Heres where Sues strategy gets interesting.
Its like getting a guaranteed raise each year she waits.
I did the math, and its like compound interest on steroids, Sue said.
By waiting until after 2025, Im not just hoping for better COLAs Im actively growingmy base benefit.
Im lucky to have some savings and a part-time consulting gig that helps cover my expenses, Sue said.
Seniors get a lot of discounts!
Thank you, AARP!
The Final Word
Social Securitys obviously a big deal, but its not one-size-fits-all.
Sues got her plan, but that doesnt mean itll work for everyone.
The key, as always, is to figure out what makes sense for you.
Dont rush into it.
Take your time, do some homework.
Maybe youre ready to jump in now, or maybe you want to hold off.
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