Social Security benefits are guaranteed for life, so many people want to get the largest amount of retirement benefits possible. Unfortunately, doing so requires waiting until age 70 to get your first payment. That's because your monthly benefit increases for each month you delay starting it up until your 70th birthday. 

While it may seem to make sense on paper to put off filing for benefits in order to increase the amount you bring home, there are actually many reasons an earlier claim might make sense. The single best reason not to wait, though, is if delaying your claim would force you to put off retiring. 

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Source Fool.com