Key Points Studies show that only 10% of working Americans plan to wait until 70 to claim Social Security. Circumstances such as chronic health conditions or difficulty finding a new job may be why. Claiming Social Security at 70 may require living into your 80s to break even. The $23,760 Social Security bonus most retirees completely overlook › Few decisions are more important than when to claim Social Security benefits. While the numbers clearly indicate that waiting until age 70 will score you the highest monthly benefits, it's not always the right choice. Timing Social Security benefits can be claimed as early as 62, although monthly benefits are reduced for filing before full retirement age (FRA) -- 67 for those born in 1960 or later.
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