Monday, February 1, 2010

Social Security Payback Pays Off -

Scanned image of author's US Social Security card.Image via Wikipedia


While there can be advantages to delaying taking Social Security, in a tough economy, some might not have a choice. After all, for those who find themselves out of work after age 62, Social Security provides a significant safety net.

But should your fortunes reverse and finances recover, it may be worth pursuing a little-known strategy and repaying the Social Security benefits you found yourself needing to take. It's a complicated calculation -- especially if you're married -- and there are risks involved. But in the appropriate situation, the result could be bigger benefit checks later in life.

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