Should You Take Social Security at Age 62, 66, or 70? An All-Inclusive Study Provides a Clear and Compelling Answer
For a majority of retired Americans, Social Security represents an indispensable source of income. It's responsible for pulling more than 21.7 million people out of poverty each year (close to 15.4 million of whom are seniors aged 65 and above).
Furthermore, national pollster Gallup has shown that between 80% and 90% of annually surveyed retirees rely on their monthly benefit as a "major" or "minor" source of income that helps cover their expenses.
Because of how important Social Security benefits are for current retirees, it's fair to assume that future generations will lean on America's top retirement program to make ends meet as well. This means it's imperative for future retirees to maximize what they receive from Social Security -- and that begins with understanding the variables that affect your payout.
Source Fool.com
