Reported 10 months ago
According to a study by the National Bureau of Economic Research, statistically, the best age for retirees to claim Social Security benefits is after age 65, with more than 91% optimizing lifetime benefits by claiming at age 70. Delaying benefits can result in a significantly larger benefit, up to 77% larger if claimed at age 70 compared to age 62. Failure to optimize benefits may lead to significant losses in income and discretionary spending power, emphasizing the importance of making informed decisions to maximize lifetime benefits.
Source: YAHOO