4. Delay Social Security If You Can
Here’s one of the simplest wealth-boosting moves you can make: wait to claim Social Security.
Yes, you can start as early as 62. But every year you delay, up until age 70, your benefit grows — about 8% more each year. For many retirees, that can mean hundreds of extra dollars every month for the rest of their lives.
Of course, it’s not one-size-fits-all. If your health isn’t great or you truly need the money now, waiting may not make sense. But if you can afford to hold off, the reward is a much larger, guaranteed check later on.
Think of it this way: waiting is like giving yourself a permanent raise.
