Maryviolet | Istock | Getty ImagesResearch suggests it's best to hold off on claiming Social Security retirement benefits until age 70, if possible, to get the biggest monthly payments available to you.
That includes 17% of respondents ages 60 to 65, who may be on the brink of retirement, according to the results.
Why it pays to wait to claim Social Security benefitsEarly claiming will affect the size of your monthly Social Security checks.
For each year delayed past full retirement age to age 70, 8% is added to Social Security benefits.
By waiting up to age 70, retirees can lock in the biggest benefit checks available based on their work records.
Persons:
—, Deb Boyden, Larry Kotlikoff, David Altig, Victor Yifan Ye, Kotlikoff
Organizations:
Istock, Getty Images Research, Social, Security, Social Security, Social Security Administration, Boston University, Federal Reserve Bank of Atlanta, Opendoor Technologies, Finance