I wrote a recent column in which I pointed out that waiting until 70 to start your Social Security, which is the mantra of almost everyone who is trying to “maximize” their retirement benefit, is not always the smartest move.
But still many people insist on waiting until that alleged magic age to draw their first Social Security check. Today’s questions come from these folks.
Q: I have been planning to wait until 70 to start my Social Security. I will be 70 on Sept. 7, 2022. I want to make sure I get the absolute maximum Social Security benefit. I’m afraid that if I indicate September as my starting month, they will think I mean the August check that comes in September. And then because I will still be 69 in August, I will get the age 69 benefit rate instead of the age 70 rate that I’ve waited so long to get. Please help me….