Are you near the age where you are going to start collecting Social Security? Then you probably have found out it is a rather complicated process. There are a lot of ways that you can maximize your benefits. There are also many ways that you can make mistakes when filing that can end up costing you in the long run. IF you ended up filing for your benefits early you may be regretting it. Never fear, you may not be as bad off as you think.

You Filed for Benefits Early and it is Too Late to Fix It

Sometimes it seems like a much better idea to retire and file for benefits than the practice turns out to be. This is because filing early can end up costing you quite a large amount of money in the long run due to reduced benefits. The good news is that you can fix the situation by starting over.

You have to ways to fix the situation. First you can repay the benefits that you took out and start over again later as if you never bothered filing in the first place. You can only do this if you have been collecting benefits for less than a year.

The second option is available to you if you have been collecting for over a year. You can suspend your benefits at full retirement age and begin collecting credits for delayed filing. You may do this up until age 70 when you can start collecting again. These credits can significantly increase the benefits that your are able to receive.

While the social security program is very complicated, help is closer than you think. If you need legal assistance with your social security benefits or other retirement planning contact Stano Law group today.