Wealth Finance

Just in time to celebrate Social Security’s birthday on Saturday, I got my annual benefits statement in the mail. Aside from giving me a shapshot of my eligible earnings since my first high school job (at Altman’s department store, now sadly defunct), it provides a lot of interesting information about how much I can expect to receive per month if I begin collecting early (age 62), on time (in my case, just short of age 67), or after age 70. Just waiting a bit longer can make a big difference in your payout. As our Consumer Reports Money Lab shows, you’ll get a bigger overall payout over your lifetime by delaying those payments. Of course, that assumes Social Security survives—hardly a proposition that’s guaranteed. For that reason, we recommend several courses to improve the chances of a satisfying and comfortable retirement. Check them out here: A happy retirementWhat succeeds over timeSix steps that workThe case for diversification—Tobie Stanger

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