Social Security can provide valuable financial support during retirement, but it is not intended to replace the role of your retirement savings or pension. It’s important to understand how the decision of when to claim benefits can impact the monthly amount you receive.

Key Takeaways:

  • One of Social Security’s main objectives is to provide retirement support for Americans who pay into the system during their working years.
  • The amount of your benefits may be affected by a range of factors, including your level of earnings and marital status.
  • One key decision to make is when to start receiving benefits, as the amount you receive increases from age 62 to 70.
  • Social Security is intended to be one piece of your retirement planning puzzle but not the whole picture.

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