Why Taking Social Security at 70 Could Cost You Big Time
Determining what age to begin claiming Social Security is one of the biggest retirement decisions you'll face, and it will impact your monthly income for the rest of your life.
You can file for benefits as early as age 62, but for every month you wait up to age 70, you'll receive slightly larger checks. For that reason, many experts recommend delaying Social Security until age 70 to receive the maximum possible payments.
While that's not always a bad idea, it's not the right move for everyone. Claiming earlier is a far better decision in some cases, and it could even help you earn more in benefits over time. Here's how to decide whether it's the right choice for you.
Source Fool.com
