As retirees consider their financial future, many face the choice of when to start drawing from Social Security or pensions. This article emphasizes the benefits of waiting to collect pension benefits for those who do not need the extra cash immediately. By postponing collection, individuals can secure a larger monthly sum in the future. However, retirees must evaluate the current market environment and the potential for returns versus waiting for guaranteed income streams as they approach retirement.
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The easy answer for this individual is to just put off collecting pension benefits. Of course, any unused cash could be invested to score a better return.
Prospective pensioners who don't need extra cash today may find it's worth waiting for the promise of a fatter income stream in the future.
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