Social Security is a major income source for retirees, with half of American households aged 65 or older relying on it for at least half their income. To maximize benefits, consider life expectancy projections to determine the best claiming age. The CDC data shows improvements in longevity, with the average 65-year-old expected to live another 19.7 years. Delaying benefits results in higher monthly payments, but factors like health and spousal benefits may influence decisions. Understanding breakeven age is crucial for making informed choices. Overall, waiting until age 70 to claim Social Security is recommended for most individuals.

Read more at Nasdaq: New CDC Data Shows the Best Age to Claim Social Security for the Average Retiree