An Extra Incentive to Claim Social Security at Age 70
It’s well known that to get the absolute highest Social Security benefit to which one is entitled, one must wait to claim at age 70. But beyond delaying and possibly working more in the years 62 to 70, and thus boosting your calculate sum, there are hidden reasons claiming at age 70 makes sense. One may add to 401k and/or IRA plans, making a portfolio much richer at 70. Or, one may simply leave their portfolios alone from 62 to 70, and they grow via compounding anyway. Read Maurie Backman’s piece here on why waiting makes sense.