Social Security is a vital source of income for many retirees. Your benefits from this entitlement program may be your only guaranteed source of lifetime income that's also protected against inflation.  

Since your retirement benefits will definitely be there to help support you throughout your lifetime, you don't want to make major mistakes in deciding when to get your first payment. Unfortunately, many people are at risk of a huge error.

Are you one of them? Could this be the biggest mistake you make when it comes to claiming benefits?

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Source Fool.com