Should You Claim Social Security at 70?
There's a reason so many people file for Social Security at 62 -- it's the earliest possible age to get your hands on those benefits. The downside, however, is that doing so slashes those payments and leaves recipients with less money to collect.
On the other hand, 70 is considered the latest age to start taking benefits, and though you technically don't have to file at that point, there's really no reason not to. That's because delayed retirement credits for holding off on benefits past full retirement age (FRA) stop accruing at age 70, so if you're entitled to Social Security, there's no sense in waiting any longer.
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Source: Fool.com
