Another Reason to Delay Claiming Social Security as Long as Possible? Taxes
Many people recommend delaying Social Security retirement benefits until age 70, because you earn delayed retirement credits for every month you delay past your full retirement age. Someone claiming at age 70 will receive checks 24% larger than if they claimed at 67. And who doesn't want a bigger check?
But delaying your Social Security checks until age 70 can also help you keep more of your money instead of having to pay the government back in higher taxes. Here's why.
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Source Fool.com
