It can be difficult to plan for your retirement. You may be confused about what the best plan for you is, and when it will be most beneficial for you to retire. In order to make the best plan for your retirement, there are a few factors you must consider. First, it’s important to calculate how much money you will need to be able to support yourself during retirement. How much will you need to cover all your expenses? Will you have to provide for or support others? Secondly, it is crucial to know how much your monthly social security retirement benefit will be. You must know an accurate amount to develop the best plan for your retirement. Third, figure out if you will have other income besides your social security benefits? Will you be able to get additional support through your other forms of income? Additionally, it can be helpful to understand whether it is best for you to wait to claim your Social Security retirement benefits. With delayed retirement credits, your monthly benefit amount could increase for each year you wait between your full retirement age and 70. An increased benefit amount for yourself could mean more support for your family in the long run and may be a better option for you.