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How big would your Social Security check be if you wait until you’re 70 to collect?
Although most recipients of Social Security start their benefits earlier, there is a big financial gain waiting for those who wait until well after they reach their full retirement age. A person’s full retirement age for Social Security purposes depends on the year they were born, but most people now thinking about starting their benefits have a full retirement age of 66 or 67. That’s when they would get 100% of what they are entitled to from Social Security. But if they wait until a later age, even up to age 70, they can boost their benefit significantly, up to 132% of what they would get if collected at their full retirement age. Read more in this article by The Motley Fool’s Sean Williams.
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