Want to Claim Social Security at Age 70? Ask Yourself This Tough Question First

The decision to claim Social Security is one you should contemplate a lot before moving forward. That's because the filing age you decide on will dictate what your monthly retirement benefit looks like.

You're entitled to your full Social Security benefit based on your wage history once you reach full retirement age, or FRA. That age is either 66, 67, or somewhere in between, depending on the year you were born.

But you can easily file for Social Security outside of FRA. The program allows you to start collecting benefits at age 62, and you can also delay your claim indefinitely if you so choose. However, financially speaking, there's no incentive to postpone your filing beyond the age of 70, so that's generally considered the latest age to claim Social Security -- even though there's no obligation to do so.

Source Fool.com