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The Decision to Defer Claiming is Becoming More Popular - Investopedia.com
The Social Security Administration reports that the share of claimants starting benefits at age 70 is rising, up from about 1% 15 years ago to about 10% this year (for men) and slightly higher for women. Despite this increase, claiming benefits at the earliest possible age (62) remains statistically high, 25.1% for men and 26.3% for women in 2024.
Of course, there is no single answer to when to file; personal circumstances shape the decision. However, more and more folks seem to recognize the value of a larger monthly benefit in their later years, likely because of longer lifespans. An interesting analysis of the claiming statistics is presented in an Investopedia.com post by contributor Daniel Liberto; check it out here.
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