How Social Security works best to maximize your retirement income

Contributing sentiments towards policy:

71% : Retirement researchers say Social Security is a "nearly perfect" retirement income generator -- here's what that means.
67% : The best way to maximize Social Security benefits is to wait to claim them for as long as possible.
67% : Plenty of financial advisors and longevity researchers agree that delaying Social Security benefits is the best strategy.
62% : Act now before it's gone ⏰To develop such a strategy, you must first assess your current financial situation, determine your desired lifestyle in retirement, and create a plan that includes maximizing contributions to retirement accounts and strategically claiming Social Security benefits.
62% : Third, Social Security benefits are indexed for inflation.
62% : Suze Orman says when it comes to retirement age, 70 is the new 65Because of its status as an ideal form of RIG, Vernon and his colleagues urge people to maximize the value of this essential benefit by delaying the age at which Social Security benefits start.
60% : Social Security earned that label from the Stanford actuaries because it helps maximize retirement income through a "thoughtful optimization strategy."
58% : Of course, this decision depends on your unique circumstances, so Vernon and his Stanford colleagues advise consulting with a financial advisor who specializes in Social Security optimization.
57% : According to Stanford University Center for Longevity researchers, Social Security meets more retirement planning goals than any other retirement income generator (RIG).
57% : Generally, studies look at Social Security benefits only and do not consider income from other sources such as pensions or 401(k) plans.
55% : He says Social Security provides anywhere from half to more than three-fourths of total retirement income for many Americans.
55% : Suze Orman agrees with Stanford's research, writing, "When you wait to claim Social Security, you are promised a bigger payout.
54% : Social Security is the foundation of retirement income for most middle-income retirees, explains Steve Vernon, FSA, the author of the Stanford research and several books about retirement financial planning.
53% : Social security is one such paycheck," he explained in an exclusive interview with TheStreet.
52% : Making Social Security even more valuable is that part or all of the income is exempt from federal income tax, and the benefits are paid automatically (usually electronically), reducing the risk of fraud.
48% : More on Social Security:"Instead of looking at a lump sum, you want to look for paychecks.

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