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Claiming Social Security at age 70 will mean a bigger benefit
Picking the right age to begin collecting Social Security is always a personal choice based upon current income needs, health and a few other factors. But if your circumstances are such that you can do it, you can expect to receive a much large benefit amount by delaying the start of your benefits. Waiting until after your full retirement age to apply will yield about an 8% benefit increase for each year you delay, and any investment which gives you an 8% return is a really good one. This Motley Fool article by Todd Campbell explains how delayed retirement credits can boost your monthly benefit by as much as 32%. Click here to read more.
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