Why You Shouldn't Claim Social Security Before 70 !

Age 70 is a critical milestone for retirement planning, primarily because it marks the latest age to claim Social Security benefits. Delaying beyond 70 provides no additional benefits, and those who fail to file can only receive six months of retroactive payments. Social Security grows by 8% annually through delayed retirement credits, making it one of the most valuable guaranteed income sources, especially when combined with cost-of-living adjustments (COLAs). Comparing this growth to investment returns is essential when deciding whether to claim early or delay. The conversation also highlights spousal and survivor benefits, emphasizing the importance of working with a financial professional to optimize Social Security strategies and ensure long-term financial security.