According to numbers published by Nationwide in May 2016, waiting until Age 70 to begin your Social Security benefits could increase your monthly income by as much as 76% versus filing for benefits at Age 62.
This is one area of retirement income planning that many people do not consider as they file for benefits as soon as they are eligible. They key to retirement is having a good plan. Most of our client realized the importance of a having a savings plan and becoming retirement ready, but many overlook the necessity of having a spending plan. A well thought out plan for retirement spending could make the difference in your money lasting... or not