Even if they may not be as dependent on it, high-earners have a vested interest in Social Security just like all of us.
These individuals may be able to retire without depending on their benefits, but as long as they’ve paid in what they were required, they deserve to be paid back.
But their unique position gives them more options. One is to delay taking their benefits. Especially if they can live without them, why not delay?
Obviously, the situation is different for everyone. But if high-earners choose to delay benefits they could score up to an extra $1,983 per check. For reference, this is for those in the $160,200 salary range or above, a cap that went up from $147,000 last year.
If you’re a high-earner who’s nearing retirement, will you delay benefits? For more content about how to maximize retirement earnings, follow NORA on Facebook and Twitter.