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#MikeBloonberg #SocialSecurity #Health #Housing #Retirement Mike Bloomberg released plans to shore up Americans' retirement on Sunday, promising to increase Social Security retirement benefits and create a government-backed savings plan for workers at all income levels. "Americans who have worked for decades deserve the opportunity to retire without facing constant financial pressure, and, as president, I will strengthen Social Security to allow seniors to do just that," Bloomberg, who is a contender for the Democratic presidential nomination, said in a statement. The announcement marks the first time Bloomberg has indicated the direction in which he plans to go with regard to Social Security. Repairing the program's solvency and expanding benefits has become a key part of several presidential candidates' plans, including Sens. Bernie Sanders, I-Vt., and Elizabeth Warren, D-Mass., as well as former vice president Joe Biden. In his announcement, Blo...

#SocialSecurity #Benefits #Retirement You may already be planning to collect Social Security in retirement, but did you know that if you wait a few years to claim those benefits, you can nearly double the size of your monthly check? Benefits are based on your income, the year you were born and the age you decide to start taking money out. So timing is key. You are first eligible to begin receiving your benefits at age 62, but waiting until 70 could translate to tens of thousands of dollars a year in your pocket when you need it most. Check out this video to see a case study of someone who turns 62 in 2020 and made $50,000 every year over the course of their career.