Reported 2 months ago
While many experts recommend waiting until age 70 to claim Social Security benefits to maximize lifetime payouts, there are significant drawbacks to consider. Delaying benefits may result in reduced lifetime benefits for some couples, especially when factoring in spousal and survivor benefits. Additionally, waiting means relying more heavily on personal investments during retirement, potentially diminishing the inheritance left for heirs. Furthermore, anyone who delays benefits will need to pay Medicare premiums out of pocket, which could impact their overall financial planning.
Source: YAHOO