Delaying Your Social Security Claim Could Be Risky. Here's Why
Once you start collecting Social Security, you'll be eligible for a specific benefit each month. And you may be eager to boost that benefit as much as possible.
To that end, there's a really simple solution, at least in theory. All you need to do is delay your Social Security claim beyond full retirement age (FRA). For each year you do, up until your 70th birthday, your benefit gets to grow. And if your FRA is 67 and you claim Social Security at 70, you'll snag a 24% boost to your monthly benefit for life.
Getting more money from Social Security on a monthly basis might seem like a great thing for your retirement. But you should know that holding off on filing your claim also comes with some risk.
Source Fool.com
