3 Reasons Not to Claim Social Security at 67
The trade-offs for waiting aren't insignificant. Just make sure your current plan actually accomplishes what you need it to in the long run.
Overview
If you've explored your options for claiming Social Security retirement benefits, then you know that full retirement age -- the age at which filing will result in receiving 100% of intended benefits -- is 67 years for anyone born in or after 1960. Of course, if you're willing to accept smaller payments, you can claim as soon as you're 62. Conversely, waiting until you turn 70 to file results in a bigger monthly benefits payment than filing at 67.
If you've done the math and still can't decide, however, there are other factors worth considering. Here are the top three reasons you might not want to claim Social Security retirement benefits when you turn 67, even though you can.
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Details
Source
Originally published at www.fool.com.
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