Maximizing Your Social Security Benefits: Key Rules and Tips to Know.

Waiting to file for Social Security benefits, even if there is a possibility of a cut, may still be the best option for some retirees. The decision to file should not be based solely on the break-even point, but rather on individual circumstances such as age, marital status, and expected longevity. Social Security should be viewed as longevity insurance, and people should not play the odds. Experts believe that the Social Security shortfall will eventually be fixed through a combination of higher taxes and benefit cuts for future generations of retirees.