What if you don't start taking Social Security benefits until after your full retirement age? As you would expect, you'll be rewarded for this. For example, if your full retirement age is 66, you'll receive 108 percent of your monthly benefit by waiting until age 67. Wait until the age of 70 and your monthly benefit rises to 132 percent.
When Should You Start Taking Your Social Security Benefits, Continued
Blog Posts, Estate Planning
Excerpt
What if you don't start taking Social Security benefits until after your full retirement age? As you would expect, you'll be rewarded for this. For example, if your full retirement age is 66, you'll receive 108 percent of your monthly benefit by waiting until age 67. Wait until the age of 70 and your monthly benefit rises to 132 percent.
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