In the ever-changing landscape of retirement planning, there’s a strategy that’s gaining traction, especially for those who plan on continuing to work or have a history of longevity in their family. Seth Stewart, a knowledgeable financial advisor at Brookstone Financial in Jeffersonville, IN, suggests that delaying your Social Security benefits can be a smart move.If you intend to continue working past your full retirement age, delaying your Social Security benefits can offer several advantages. First and foremost, by waiting to claim, you can potentially increase your monthly benefits. For each year you delay beyond your full retirement age (typically 66 or 67, depending on your birth year), your benefit grows by a certain percentage, up to age 70. This means that when you eventually start collecting, your monthly check could be significantly higher, providing a more robust financial cushion in your later years.Moreover, if longevity runs in your family, delaying your benefits can be a prudent choice. It’s a way to ensure that you have a more substantial income stream to support you throughout a potentially extended retirement. By maximizing your Social Security benefits, you can help safeguard against the risk of outliving your savings.Of course, the decision to delay Social Security is not one-size-fits-all. Seth Stewart recommends that you carefully consider your unique financial situation, health, and retirement goals. While delaying benefits can lead to higher monthly payments, it means you won’t receive benefits for a few extra years. Therefore, it’s crucial to have alternative income sources to bridge the gap if you choose this route.Additionally, if you plan to keep working, be mindful of Social Security’s earnings limits. If you claim benefits before reaching full retirement age and continue to earn over a certain threshold, a portion of your Social Security income may be withheld. However, once you reach full retirement age, there are no earning limits, and you can collect your benefits without reduction.In conclusion, when it comes to your Social Security benefits, delaying can be a strategic move, particularly if you plan on continuing to work or have a family history of longevity. Seth Stewart at Brookstone Financial in Jeffersonville, IN, can help you navigate this important decision, ensuring that your retirement plan aligns with your unique financial goals. So, consider your options carefully, and with the right guidance, you can make the most of your Social Security benefits and enjoy a more secure and prosperous retirement.