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Should You Wait Until 70 to Claim Social Security?
That, of course, is a question which cannot be answered with 100% confidence because their are many factors which might change, regardless of when you decide to claim. You can, however, make an informed decision on when to claim the benefit you’ve earned from a lifetime of working by considering your financial needs, your plans for working, your marital status and, very importantly, your life expectancy. The key is to not make an impulsive decision, but weigh various factors, including your breakeven age, when developing your Social Security claiming strategy. And although maximizing your monthly benefit by waiting until you are 70 to claim can seem attractive, a careful evaluation of your personal circumstances might lead you to a different conclusion, as explained in this Motley Fool article by Stefon Walters.
Also, if you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public advisory service to help Americans navigate the complexities of this program. Learn more about it here…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.