2 Scenarios Where You Absolutely Should Not Delay Social Security
If you're in line for Social Security, your goal may be to score the largest monthly benefit you can. After all, that's money you can use to pay bills, stay out of debt, and just plain enjoy retirement a bit more.
You may be aware that you can't get your full monthly Social Security benefit based on your wage history until you reach full retirement age, or FRA. FRA is 67 for anyone born in 1960 or later. Furthermore, for each year you delay your Social Security filing past FRA, your benefits will grow 8%, up until age 70. (You won't be forced to sign up at that point, but there's no reason to delay your claim, either.)
A delayed Social Security filing might seem like the perfect thing for you at first glance. But if these scenarios apply to you, you may want to file for benefits at FRA -- or even earlier.
Source Fool.com
