3 Reasons You Could Regret Waiting Until 70 to Claim Social Security
Waiting to claim Social Security until age 70 will earn you the largest monthly checks possible, since you get delayed retirement credits up until this age after you've passed your full retirement age. These credits raise the size of your benefit 2/3 of 1% for each month you wait, which adds up to an 8% annual increase in benefits.
For around 6 in 10 retirees, claiming benefits at 70 is the financially optimum choice that results in the largest amount of lifetime benefits. It's also the strategy recommended by Stanford experts.
But that doesn't necessarily mean delaying your benefits until 70 is the best choice for every retiree. In fact, there are three big reasons you could come to regret the decision to delay.
Source Fool.com
