Should You Take Social Security at 70? The Data Says Yes -- But There's a Catch
Deciding what age to begin taking Social Security is tough, mostly because the right answer will be different for everyone.
Age 62 is the most popular time to file, with roughly 35% of men and 40% of women filing at this age, according to a 2020 report from the Bipartisan Policy Center. But by waiting until age 70 to begin claiming, you'll receive substantially larger payments each month.
For that reason, research suggests that delaying Social Security until age 70 is the best move for the majority of older adults. But there's an important caveat to this claim, and in some cases, you may actually be better off filing early.
Source Fool.com