1. Time Your Social Security Smartly
One of the biggest decisions you’ll ever make is when to start drawing Social Security. It’s tempting to grab it as soon as you hit 62 — who doesn’t want the security of a monthly check? But patience really pays off.
Every year you delay your benefits, you get roughly 8% more — up until age 70. That means if you wait until 70, your monthly benefit could be around 132% of what you’d get at full retirement age.
Think of it like this: waiting just a few more years can mean hundreds of extra dollars in your pocket every single month for the rest of your life. If you can work part-time or use other savings until then, it’s worth considering. You’re not “losing time,” you’re buying a higher guaranteed income later.
