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BusinessMarketWatch · 29d ago

People say I should wait until 70 to claim Social Security. When does delaying pay off?

Delaying Social Security benefits until age 70 increases monthly payments by approximately 8 percent annually compared to claiming at 62. The strategy becomes financially advantageous only if someone lives substantially longer than average, typically into their 80s, since earlier claimants receive more total benefits over a shorter lifespan.

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