Is 67 the Optimal Age to Claim Social Security?
You can sign up for Social Security at a variety of ages. The earliest one is age 62. And while there's no official latest age for claiming benefits, filing beyond age 70 doesn't make sense because once you turn 70, you'll stop accruing the delayed retirement credits that boost your Social Security benefits for life.
In the middle of that range is age 67, also known as full retirement age (FRA) for Social Security purposes for anyone born in 1960 or later. FRA is when you can start receiving your full Social Security benefit based on your wage history without a reduction.
It's important to note that there's really no such thing as the "right" age to claim Social Security, as that's a personal and individual decision. But if you have no idea when to start taking your benefits, you might want to land on age 67, assuming it's FRA for you. Here's why.
Source Fool.com
