Should You Claim Social Security at 62, 65, or 70? Statistically Speaking, This Is the Best Age for Retirees to Take Benefits.
In most years, about 10% of newly retired workers claim Social Security at age 70, the age at which their payout is largest. Meanwhile, about 25% of newly retired workers claim Social Security at age 62, the age at which their payout is smallest. People in the latter group often regret their decision.
Indeed, a study published by the National Bureau of Economic Research found that 23% of beneficiaries wish they had delayed Social Security. But future retirees can avoid that regret by making informed decisions. Read on to see how claiming age impacts Social Security payouts, and to learn which claiming age is statistically most likely to maximize lifetime benefits.
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Source Fool.com