5 Key Question’s Baby Boomers Must Ask Before They Retire: Q2: What’s the impact of working one or two more years?
1) What’s the impact of working one or two more years?
Postponing retirement allows a person to delay
claiming Social Security; thereby increasing the size of
the annual benefit. It also gives retirement savings
more time to grow. Pension benefits usually also
increase up to age 65, though some plans may boost
benefits until age 70.