"Maximizing Social Security Benefits: Why Waiting Until Age 67 is a No-Brainer"

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Source: The Motley Fool
"Maximizing Social Security Benefits: Why Waiting Until Age 67 is a No-Brainer"
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TL;DR Summary

There are three compelling reasons to consider claiming Social Security benefits at age 67. Firstly, waiting allows individuals to continue working and potentially earn more money, as the average monthly Social Security benefit is significantly lower than the average monthly income. Secondly, delaying benefits until age 67 results in higher monthly payments, as benefits are reduced for early retirement. Lastly, waiting provides more time to save for retirement and allows for additional contributions to retirement accounts, potentially increasing overall savings. However, it's important to consider individual circumstances and consult with a financial advisor to make the best decision.

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