Why Don’t More People Wait Until They're 70 to Claim Social Security?
On the surface, it seems like a no-brainer: wait until you're 70 to claim Social Security and your monthly checks could be as much as 70% higher. And yet a scant 3% of men and 5% of women actually wait that long to claim benefits.
What gives?
While the reasons are ultimately personal, there are three major factors that likely contribute to such a small cohort waiting until 70 to start receiving Social Security. Two of them are somewhat depressing, while the third is much more uplifting.
Source: Fool.com