Is Delaying a Social Security Claim to Increase Your Benefit Really Worth the Sacrifice?
A delayed Social Security claim can give your benefit a big boost. But it may not be worth it for everyone.
Overview
When you turn 62, you become eligible for Social Security retirement benefits. Many people look forward to this day because getting benefits can open up the door to retirement. However, many financial experts will tell you not to claim Social Security as soon as you become eligible. In fact, the conventional wisdom is that you should wait until you turn 70.
Delaying for eight years when you could be collecting benefits is a major sacrifice. The big question is, is it worth making that sacrifice? And the answer is, it depends.
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Source
Originally published at www.fool.com.
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