3 Scenarios Where Claiming Social Security at 70 Absolutely Pays Off
While waiting doesn't always make sense, these situations could warrant a later claim.
Overview
One of the hardest financial decisions you might have to make in your lifetime is figuring out when to claim Social Security. Though you can sign up for benefits at any point once you turn 62, you'll need to wait until full retirement age to get those monthly checks without a reduction.
Full retirement age is 67 if you were born in 1960 or later. But you should know that your options don't end there. For each year you delay your Social Security claim past full retirement age, up until age 70, your benefits get an 8% boost.
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Details
Source
Originally published at www.fool.com.
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