Social Security at 70 Isn't a No-Brainer. Here's Where It Could Backfire.
Claiming benefits as late as possible doesn't always pay off.
Overview
Financial experts often describe age 70 as the "optimal" time to claim Social Security. And in many cases, waiting that long really can pay off.
If you delay your Social Security claim beyond full retirement age, your monthly benefits get to grow 8% per year until age 70 thanks to the program's delayed retirement credits. That can lead to a significantly larger monthly check for the rest of your life.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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