Should You Wait Until 70 to Claim Social Security Benefits? Here's What the Statistics Show
Over 50 years ago, preschoolers at Stanford's Bing Nursery School were given a choice. They could either eat one marshmallow immediately or wait 20 minutes and get two marshmallows. The kids were then tracked for decades. The ones who waited fared better in multiple ways, including higher SAT scores and increased self-worth.
American adults nearing retirement face their own version of the marshmallow test. They can claim benefits early at age 62. They can wait until their full retirement age. Or they can wait until age 70. The longer the wait, the higher the benefits.
It might seem like a no-brainer to push back as long as possible. But should you really wait until 70 to claim Social Security benefits? Here's what the statistics show.
Source Fool.com
