Why Most People Have No Intention of Following This Social Security Advice

The retirement advice most often doled out to adults is to wait until age 70 to collect Social Security benefits -- and it makes sense. After all, if you claim benefits the first year you're eligible (age 62), your permanent monthly benefit will be about 30% less than if you waited until your full retirement age (FRA) of 66 to 67. And if you wait until age 70, your monthly benefit will be about 24% higher than at FRA. Here's how that would look if your FRA benefit is scheduled to be $2,000 monthly:Despite seeing the math in black and white, the recently released Schroders 2025 U.S. Retirement Survey revealed that only 8% of those asked planned to wait until age 70 to claim benefits. Here are some of the reasons why: Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool