Only 4% claim Social Security at 70 - MarketWatch
You can start receiving your Social Security retirement benefits as early as age 62 but at a reduced amount. However, you are entitled to full benefits only when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to 70, your benefit amount will increase. Even with the promise of more money, only 4 percent of retirees wait until age 70 to claim their Social Security benefits. By claiming early, the National Bureau of Economic Research found the median loss in household lifetime discretionary spending totaled $182,370. Jessica Hall reports why so few people wait until age 70 to claim their Social Security benefits. Read Ms. Hall’s article here…
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