Social Security: Research Shows This Age Is the Best to Take Benefits -- but There's a Big Caveat
Social Security can make or break retirement for many people. Nearly 60% of current retirees say they depend on their benefits as a major source of income, according to a 2023 poll from Gallup, so it's wise to ensure you're maximizing them.
One of the most important factors influencing your benefit amount is the age you begin claiming. Age 62 is the earliest you can claim, but for every month you delay (up to age 70), you'll receive larger payments.
In general, there's no single right time to take benefits. Your decision will depend largely on your unique situation and retirement goals, so what's best for one person may not be best for everyone. That said, research shows there's a clear advantage to filing at one age in particular -- and it could boost your retirement income by hundreds of thousands of dollars.
Source Fool.com
