Bankrate.com - January 20, 2024

In this article about retirement income, David A. Schneider states, “Many people can benefit from waiting until 70 to collect Social Security since it is the only government-guaranteed, inflation-protected income source.” 

The article says, “Schneider points to the fact that filing for benefits early can hurt your monthly payout while waiting to claim after full retirement age can boost your benefit 8 percent a year. The upshot: If you claim at age 62, you can earn a check that’s just 70 percent of your full retirement benefit, while if you wait, you can boost your payout to about 124 percent of your full benefit.”

Read More: Bankrate.com