For many Americans, Social Security represents more than just a monthly check you'll receive during retirement. It's a financial foundation that's responsible for pulling more than 21 million people out of poverty each month (nearly 15.4 million of whom are adults aged 65 and over), and a source of income that helps between 80% and 90% of current retirees cover their expenses.

Getting as much as you can out of Social Security (by making an optimal claim) is paramount to the financial well-being of most future retirees. But in order to do so, you'll need to understand how your claiming decision, along with other key factors, affects how much you'll receive each month.

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Source Fool.com