Social Security Strategies for Singles

Social Security Strategies for Singles

Single people often think that Social Security claiming strategies aren’t for them.

But the truth is anyone under 70, including singles, can benefit from smart planning on when to take the money. In fact, the oft-discussed “file and suspend” strategy may be even better for singles.

“When you hit your full retirement age, you’ll want to file for your Social Security benefit and suspend its collection,” says Laurence Kotlikoff, a professor at Boston University and author of Get What’s Yours: The Secrets to Maxing Out Your Social Security. “When you file and suspend, you have the option at any point afterwards to go back if you have an urgent need for money.

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