," a guide to the Social Security program. Instead, Americans should use financial strategies that can help them delay when they claim Social Security, which will boost their lifetime discretionary income, he said. , which means those workers will be more reliant on Social Security in their old age and may be tempted to claim early in order to have a steady stream of income as soon as they turn 62.
Aside from working longer, there are a number of other strategies that workers can tap to help put off claiming Social Security until full retirement age or older. For one, people with retirement savings in a 401 or other accounts can draw down that money first, he noted. Cost-saving measures like moving in with relatives or taking a loan from a family member can also help tide you over until you reach 70.
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