Could delaying your Social Security claim backfire on you?
Many financial advisors are quick to tell you that the best way to maximize your Social Security benefit amount is to wait as long as possible, even up to age 70, to claim your benefits. And while that is quite true in a lot of situations, there are also some circumstances when delaying might mean exactly the opposite – you could actually lose money if you wait to apply for benefits, if certain events happen. In this article by Motley Fool’s Maurie Backman appearing at Tucson.com, the author explains how waiting to claim your benefits can greatly increase your monthly benefit amount, but then also explains the circumstances of how that could mean less in cumulative lifetime benefits. Click here to read more.