Is Delaying a Social Security Claim to Increase Your Benefit Really Worth the Sacrifice?

Key Points You have the choice to claim Social Security between the ages of 62 and age 70. The age at which you make your claim will affect the amount of benefits you collect. If you wait to claim your Social Security benefits, you'll increase the amount you can collect. The $23,760 Social Security bonus most retirees completely overlook › When you turn 62, you become eligible for Social Security retirement benefits. Many people look forward to this day because getting benefits can open up the door to retirement. However, many financial experts will tell you not to claim Social Security as soon as you become eligible. In fact, the conventional wisdom is that you should wait until you turn 70.