When Is The Best Time To Take Social Security Benefits

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They are not meant to be saved for retirement. Many people do save some of their social security benefits, however. It is possible that you will lose out on a portion of your monthly benefit if you keep it in savings and invest the proceeds when it matures (generally at age 65). Social Security’s annual cost-of-living adjustment (COLA) does not take place until the following year. So, by keeping it in liquid investments, especially taxable bonds or stocks during its entire tenure, you are essentially losing money over time by delaying claiming your benefits until age 70 1/2 or beyond. Of course this depends upon what investment options are available at your stage in life…