Deciding when to file for Social Security is a crucial retirement decision that will impact your monthly benefit for life. You can claim as early as 62, but waiting until full retirement age at 67 ensures you receive your full benefit. Delaying past 67 boosts your benefits by 8% each year until 70. While 70 guarantees the highest monthly benefit, consider your health and financial goals. If you want to enjoy experiences earlier in retirement, it may make sense to claim earlier. Ultimately, focus on maximizing the benefits to enhance your retirement lifestyle.

Source: https://www.fool.com/retirement/social-security/?utm_source=nasdaq&utm_medium=feed&utm_campaign=article&referring_guid=449ba110-74fa-4957-9503-fec58a6e4c74

Read more at Nasdaq.: Here’s a Great Reason to Claim Social Security Long Before Age 70