Of course, you can start collecting your Social Security benefits anywhere between 62-70 years old. But here’s the catch: for every year that you delay receiving benefits, your Social Security income increases by 8% (until you reach 70 years old).
In other words, simply having patience and waiting it out can increase your income significantly on the long run. For example, if you delay from 67 to 70 years old, your benefits are increased by 24%!
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