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Sat, July 04

Study: Retirees lose by taking Social Security at wrong time

In this file photo, trays of printed social security checks wait to be mailed from the U.S. Treasury's Financial Management services facility in Philadelphia. A new study finds that only 4% of retirees start claiming their Social Security benefits at the most financially optimal time. And current retirees collectively will lose $3.4 trillion in potential income to fund their retirement because they started drawing benefits at a less than ideal time. That’s roughly $111,000 per household, according to the research from United Income, an online investment management and financial planning firm. AP Photo/Bradley C. Bower, File)

In this file photo, trays of printed social security checks wait to be mailed from the U.S. Treasury's Financial Management services facility in Philadelphia. A new study finds that only 4% of retirees start claiming their Social Security benefits at the most financially optimal time. And current retirees collectively will lose $3.4 trillion in potential income to fund their retirement because they started drawing benefits at a less than ideal time. That’s roughly $111,000 per household, according to the research from United Income, an online investment management and financial planning firm. AP Photo/Bradley C. Bower, File)

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