Why You Should Never Delay Social Security Past Age 70

If a little is good, a lot must be better, right? That may be true of knowledge, laughter, and friends, but it's not true of delaying Social Security. There are at least three good reasons waiting past age 70 to claim Social Security isn't in your best interest.Image source: Getty Images.You've undoubtedly heard that postponing Social Security until age 70 is the best way to maximize your monthly benefits. For most people, full retirement age (FRA) is 67 -- the age at which you'll receive 100% of your Social Security retirement benefits. For every year you delay claiming Social Security between FRA and 70, your permanent monthly benefit increases by roughly 8%. For example, if you're scheduled to receive $2,000 per month at FRA, waiting until age 70 means receiving $2,480 per month.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool