Is It Wise to Claim Social Security Early?

One of the most important decisions facing boomers is when to "retire" and apply for Social Security benefits. Many boomers just don't feel ready for retirement and plan to keep working as long as possible--the advantage is that waiting longer means a larger benefit check each month.

But dwindling retirement funds and fewer jobs mean more boomers are applying for Social Security benefits than the Social Security Administration was expecting, based on years past. Is applying for Social Security benefits as soon as possible the best strategy? Maybe not.
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