Is Claiming Social Security at 70 a Mistake?
Social Security gives you flexibility with when you sign up. Though you're not entitled to your full monthly benefit based on your wage history until you reach full retirement age, or FRA (which is between ages 66 and 67), you can file for benefits as early as age 62 or delay your filing all the way until 70. In fact, technically, you don't have to sign up at age 70, but there's no reason to delay past that point.
Filing for benefits early will shrink them on a permanent basis, while delaying your filing will result in a permanent boost. It's for this reason that you may be tempted to sign up for Social Security at age 70. But will you regret that decision later on?
Image source: Getty Images.
Source Fool.com
