I Used to Think Claiming Social Security at 70 Was the Safest Move. Here's Why I Now Think It's Incredibly Risky.

I Used to Think Claiming Social Security at 70 Was the Safest Move. Here's Why I Now Think It's Incredibly Risky.

Key PointsDelaying Social Security until age 70 gives you larger monthly checks for life.It also means missing out on many years of benefits.A shorter lifespan could make this strategy backfire, and it's impossible to know how long you'll live. The $23,760 Social Security bonus most retirees completely overlook › If there's one thing retirees as a whole tend to fear, it's running out of money. And it doesn't matter if you're kicking off your sen…

The Great Timing Debate: Should I claim Social Security early or late? – The Courier News

PHOTO SOURCE: (c) Inside Creative House / iStock via Getty Images Plus (StatePoint) Retirees become eligible to claim Social Security benefits at age 62, but the timing of when you claim can drastically impact your benefit amount. Still, when to claim will be entirely dependent on your unique situation. As you approach retirement, it’s important to understand the impact that timing has on your benefits. “The timing of when you elect to receive yo