The Best Age to Claim Social Security: How Delaying Can Boost Your Lifetime Benefits
Wednesday, 15 May 2024, 12:00
Delaying for Larger Social Security Benefits
Delaying your Social Security application can lead to larger monthly benefits as you grow older.
Stats on Benefit Increases By Age
- From 62 to 70: Benefit increments range from 5% to 8% per year, influencing your lifetime benefits.
The recent National Bureau of Economic Research survey indicates that claiming at 70 could result in the largest lifetime benefit for the majority of retirees.
Optimizing your application could boost your lifetime benefits significantly.This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.