1 Psychological Trick to Help Optimize When You Claim Social Security
Most people start taking their Social Security benefits too early. Just 4% of retirees begin their monthly payments at the optimal time, according to the Bipartisan Research Center.
For most retirees in good health, the best age to claim Social Security benefits is age 70. Waiting to claim Social Security provides a guaranteed inflation-adjusted return that you won't find with any other investment vehicle.
There's a big reason many people claim early, and it has to do with how Social Security benefits are framed. The phrase "it's not what you say, it's how you say it," is actually very true in decision science. Changing the frame can help more retirees make the more optimal choice of waiting until 70 to claim Social Security benefits.
Source Fool.com
