This Is the Average Social Security Benefit for Age 70
Social Security benefits can be claimed at any age between 62 and 70. Starting earlier will get you smaller checks but many more of them, while delaying your claim will beef up your checks, though you'll receive fewer of them. The decision of when to start collecting your Social Security benefits is a big one, and you'll want to put a lot of thought into it.
Many people start collecting early, and lots of them need to -- due to a job loss or health setback or simply because they need the income for any reason. It can be smart to start early if you stand a decent chance of living a shorter-than-average life, too.
For most folks, however, the best strategy is to wait until age 70, if you can.
Source Fool.com
