Most personal finance and retirement experts recommend waiting until age 70 to claim Social Security benefits. The primary reason for that rule of thumb is because the average individual will maximize their lifetime benefits by delaying Social Security. It also comes with a few additional tax-planning benefits for wealthier households.

But there are still some drawbacks to waiting until you're past your 60s to start collecting Social Security. These unfortunate truths shed light on some of the realities average American retirees might face in their claiming decision.

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Source Fool.com