Today's Money Story Here's the move almost nobody talks about: voluntary Social Security suspension. If you claimed Social Security early — say, at 62 or 63 — and you're now between 66 and 69, you can actually pause your benefits. Every month you suspend, your future check grows by roughly 0.67%. That adds up to 8% per year in what the SSA calls "delayed retirement credits." So if you're currently collecting $1,800/month and you suspend from 67 to 70, you could bump that check to around $2,232/month — for life. That's an extra $432 every single month, just for hitting the pause button for a few years. Now, the catch (there's always one): you can't collect spousal benefits during the suspension period, and you need another income source to cover expenses while you wait. This isn't a fit for everyone. But if you have a pension, part-time income, or a healthy savings cushion — and you're in good health — this is one of the most powerful income-boosting tools in the entire retirement playbook. The takeaway: Before you assume your Social Security amount is locked in forever, call the SSA at 1-800-772-1213 or log into ssa.gov. You might be sitting on a raise you didn't know existed. |