The No. 1 Reason to Claim Social Security at Age 70

You'll often hear that Social Security should not be your only source of retirement income. That's because the average recipient today only collects $1,565 a month. And while that's not a negligible sum of money by any means, it's also probably not enough to live comfortably on.

But while many people strive to bring personal savings into retirement, many ultimately fall short of meeting their goals. The good news, however, is that Social Security will reward you financially for holding off on claiming benefits. And it's for this reason that signing up at age 70 makes so much sense.

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Source Fool.com