Claiming Social Security at 70 Could Shortchange You. Here's the Math.
Delaying your claim as long as possible isn't always the smartest move.
Overview
Figuring out when to claim Social Security is one of the hardest retirement decisions you might have to make. If you file for benefits ahead of full retirement age, which is 67 for anyone born in 1960 or later, your monthly checks will be permanently reduced. If you claim after full retirement age, your payments will increase.
Age 70 is when you stop getting credit for delaying your claim past full retirement age. For this reason, it's often referred to as the latest age to sign up for Social Security even though you can technically file well into your 70s or beyond.
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Details
Source
Originally published at www.fool.com.
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