The Best (and Worst) Age to Take Social Security Benefits
Retirement is becoming more expensive by the year, and millions of seniors depend heavily on Social Security to help make ends meet. One of the most important retirement decisions you'll face is, what's the best age for you to start taking benefits? You can file for Social Security as early as age 62 or delay until age 70, but your choice will have an enormous impact on your monthly benefit amount.
This is a highly personal decision, and your choice will depend largely on your unique situation. But research suggests there could be an ideal (and less-than-ideal) age at which to start taking Social Security.
Several factors impact the amount you'll collect each month from Social Security, including the number of years you've worked, your earnings history, and your age. To receive the full benefit amount you're entitled to based on your work record, you'll need to wait to file until your full retirement age (FRA), which will depend on your birth year.
Source Fool.com
