3 Reasons I'll Be Taking Social Security Long Before Age 70

When to file for Social Security benefits is one of the most important decisions you'll make in retirement. Most people first become eligible for retirement benefits starting at age 62, but experts typically recommend waiting until 70 to maximize your monthly check.Waiting until age 70 could increase your Social Security benefit by roughly 77% compared to claiming at age 62. Most people will live more than long enough for the bigger monthly check to make up for the years of foregone benefits. Indeed, the optimal decision for a single retiree is to wait until 70, barring any reasons to expect a shorter-than-average life.But no financial decision should be made in a vacuum. There are plenty of reasons why it might make sense to claim benefits long before age 70. In fact, I plan to claim my Social Security very early, perhaps as soon as I'm eligible. Here are three reasons why it makes sense for me.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool