The majority of personal finance experts agree that waiting until you turn 70 to claim Social Security is a good bet.

The advantage of waiting until 70 is clear: You get much bigger monthly checks. While you can claim benefits based on your own work record starting at age 62, you'll receive slightly bigger checks every month you delay beyond that. And the difference can add up. Someone claiming at 70 can receive a check 77% larger than if they claimed at 62.

And thanks to the long-term rise of life expectancy, waiting until 70 can maximize lifetime benefits for most retirees. With that in mind, here's what the average retiree receives in Social Security benefits at age 70.

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Source Fool.com