There's No Official "Final" Age to Claim Social Security. But Here's Why There Should Be.
One nice thing about Social Security is that filers get a choice when it comes to signing up. Once you turn 62, you can claim Social Security at any age. However, you're not entitled to your complete monthly benefit based on your personal income history until you arrive at full retirement age (FRA). FRA is 67 if you were born in 1960 or any time after.
Delaying your Social Security filing past FRA, meanwhile, could be a smart financial move. For each year you do so, up until age 70, your monthly benefit gets an 8% boost. If you're someone without a lot of retirement savings, filing for Social Security at age 70 versus a younger age is a great way to make up for a lower 401(k) or IRA balance.
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Source Fool.com
