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Seniors Should Pass Up 8 Years of Social Security Income. Here's Why.

·3 min read
Seniors Should Pass Up 8 Years of Social Security Income. Here's Why.

Odds are good that you will end up with more lifetime income as well as more monthly income by delaying your claim. Waiting gives you the best chance at more lifetime benefits, because the benefits formula was designed to equalize out the money obtained by early and late filers -- but it was created back when life expectancies were lower. Your spouse will end up better off because Social Security survivor benefits enable your widow(er) to keep the larger of the two payments coming into your household.