When to File for Social Security
There are various Social Security claiming strategies that help to maximize the benefits for an individual or couple. The breakeven age where you would be better off delaying benefits typically occurs between your late 70s and early 80s, depending on how long you wait and other factors. The 8% per year increase from full retirement age to age 70 is powerful, and once a client crosses that breakeven age, the benefit grows exponentially. Strategies such as "file and suspend" can be used to fully maximize Social Security benefits, especially for married couples.