3 Awful Reasons to Take Social Security at 70
It doesn't take a rocket scientist to figure out why someone would wait until 70 -- the latest possible age -- to claim Social Security benefits. By waiting, monthly checks are 76% higher than if you claimed at 62, and 32% higher than if you claimed at full retirement age of 66.
Think about that. This is the difference between annual checks of $12,000 and $21,000. It's not a small deal -- and could be a major incentive.
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Source: Fool.com