Many people believe that 65 is the age to start claiming Social Security benefits, but the earliest age to sign up is actually 62. Full retirement age is 67 for those born in 1960 or later, but waiting until 70 can boost benefits by 8% per year. However, there is no financial benefit to delaying past age 70. Deciding when to claim benefits is a personal choice that should consider financial needs and longevity. It’s important to weigh the pros and cons of claiming early, on time, or late based on individual circumstances. Make an informed decision to maximize Social Security benefits.

Read more at Nasdaq: I Was Once Convinced I’d Claim Social Security at 70. Now I’m Not So Sure.