Five Social Security Mistakes That Could Cost You $100,000 or More

Before You Claim Social Security Benefits, Look at the Bigger Picture

When to claim Social Security can be one of the most important decisions you make as you approach retirement. The right strategy depends on much more than simply reaching a certain age—it can be influenced by your income needs, longevity, taxes, spousal benefits and the role Social Security will play in your overall retirement income plan.

Kiplinger highlights five Social Security mistakes that could have a significant impact on your lifetime benefits and retirement strategy.

READ Five Social Security Mistakes That Could Cost You $100,000 or More | Kiplinger

Social Security is just one piece of a coordinated retirement income strategy, but the decisions surrounding it can have long-term consequences. Taking the time to understand your options—and how they work alongside your investments, taxes and other income sources—can help you make a more informed decision for your retirement.