But When Should You Wait?

These five tips should help you decide your course of action. After all, your Social Security checks are nothing to scoff at and taking all your circumstances under consideration could make the difference between a comfortable retirement and barely making ends meet.

If you still feel unsure and need a little more guidance, here are five more tips on when you should wait instead. Postponing until you reach your full retirement age means you’ll be getting your standard amount. No more, no less. You should know what your full retirement age is first before making any decisions, as it’s not the same for everyone.

But waiting until you’re 70 could win you a massive monthly boost in terms of finances. It’s no surprise that those who can usually wait until this age in order to make the most out of the program.

Keep in mind, however, that 70 is the finish line when it comes to Social Security. Though you may be able to wait even longer, there are no added benefits to doing so.