The Best Reason to Take Social Security Long Before Age 70
The decision on when to start taking Social Security benefits is one of the most important for retirement planning. Many people recognize that they can maximize their monthly checks by starting to take them at age 70, but that's not always the best option. There's no right answer that applies to everyone, and every option comes with trade-offs. Still, there are plenty of people who should be taking Social Security much earlier than 70, and there's usually one major reason behind this.
In most cases, if a retiree is better off taking Social Security benefits earlier, it's due to cumulative payments. You'll max out your monthly check by waiting until 70, but there's a game of catch-up that takes a few years to play out.
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Source Fool.com
