For many retirees, the decision of when to start Social Security is one of the most important financial choices they’ll ever make. While it’s tempting to claim benefits as soon as you’re eligible, delaying Social Security by 1 year can have a surprisingly big impact on your retirement income — in some cases, leading to as much as a 76% increase by age 70. That’s money you can count on for the rest of your life. More retirees are catching on to this strategy, and the numbers suggest it’s not just a niche move anymore. Here’s what you should know if you’re weighing the pros and cons.
