Should I wait to 70 to Retire?
Benefits can begin as early as 62, but each year you delay taking them (up to age 70), provides an increase in the benefit — and that can be significant. So that seems like a no-brainer, right?
Well, here are three reasons it might notbe beneficial to wait until 70.
- You may not make it to your claiming age;
- A higher monthly payout may not be optimal; and
- Significant benefit cuts are on the horizon.
To learn more about the 3 cons of waiting until 70 to retire, read the full article 3 Top Reasons Taking Social Security at Age 70 Is a Mistake on Fool.com.