Claiming Social Security at age 70 is not the no-brainer that many experts say it is - here's why
Briefly

from 24/7 Wall St.5 months ago
Choosing when to claim Social Security involves risks, as waiting until 70 may maximize monthly benefits while also potentially leading to overall less income.
24/7 Wall St.https://247wallst.com/personal-finance/2024/10/02/age-70-is-not-the-best-time-to-claim-social-security-heres-why/
Life expectancy in the U.S. is declining, currently averaging at 77 years, making the decision to delay Social Security benefits until 70 a gamble.
24/7 Wall St.https://247wallst.com/personal-finance/2024/10/02/age-70-is-not-the-best-time-to-claim-social-security-heres-why/
Many individuals might overlook that a larger monthly check at 70 comes at the cost of forgoing retirement income in the earlier years.
24/7 Wall St.https://247wallst.com/personal-finance/2024/10/02/age-70-is-not-the-best-time-to-claim-social-security-heres-why/
It is essential to weigh the benefits of claiming Social Security at different ages, as financial stability in retirement can hinge on timing.
24/7 Wall St.https://247wallst.com/personal-finance/2024/10/02/age-70-is-not-the-best-time-to-claim-social-security-heres-why/
Read at 24/7 Wall St.
#social-security #retirement-planning #life-expectancy #financial-strategy #claim-timing
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