Many Americans don't realize they can increase Social Security monthly payments by adopting a "bridge" strategy. Leveraging funds in a 401(k) in early retirement to delay taking Social Security benefits may increase your monthly payment by hundreds or even thousands of dollars.
The age at which you start taking Social Security benefits is key; you can begin collecting Social Security at age 62, but you can get much higher monthly payments if you wait as long as age 70. Of course, many people want to (or must) retire before they reach 70. If you’re one of them, consider a possible strategy, backed by research, to use your retirement savings to postpone receiving Social Security.
