The 1 Reason It Really Pays to Delay Social Security
What's the right age to sign up for Social Security? It's a question many people ask themselves, especially as retirement nears.
The fact that you get a choice in your Social Security filing age is actually a bit of a mixed bag, because it can make your decision difficult. If you claim benefits at your exact full retirement age (FRA), you'll get your complete benefit based on your earnings history. If you sign up at age 62, you'll slash your monthly benefit but get your money sooner -- and possibly get to retire sooner.
You can also delay your filing beyond FRA. For each year you do, your benefit increases 8% up until age 70.
Source Fool.com
