Understand your options by calling a Charlotte disability attorney at the Bridgman Law Offices at 704-815-6055 to learn more about maximizing your benefits.
The economic realities of recent years place many Americans in similar situations as theyface retirement: no pension and little savings. Consequently, a Charlotte disability attorney can be instrumental in suggesting strategies designed to maximize Social Security benefits.
Wait as Long as Possible to Claim Benefits
Although benefits can be claimed as early as age 62, deferring that election until later will result in a greater monthly benefit. Full retirement age is currently 66, but it is gradually increasing to 67. For most workers, the monthly benefit amount at age 62 is only about 75 percent of what it would be at full retirement age. Moreover, if an individual has sufficient income to wait until the maximum age of 70 to begin collecting Social Security, his or her monthly check may be almost double the amount at age 62.
Options for Married Couples
Although each individual may collect only one type of Social Security benefit at any one time, most married couples have the option of collecting their own retirement benefit or a spousal benefit, which typically is 50 percent of the other spouse’s benefit.
Based on the couple’s particular situation, a Charlotte disability attorney can advise if it makes sense, for example, for the lower wage-earning spouse to collect benefits at 62, while the higher earning spouse defers collection until age 70.
Contact a Charlotte Disability Attorney for Legal Advice
Now, more than ever, maximizing Social Security benefits is critical in maintaining a secure retirement. Understand your options by calling a Charlotte disability attorney at the Bridgman Law Offices at 704-815-6055.