But if you're in the opposite boat, and you've done a bang-up job of setting money aside for your senior years, then you deserve to enjoy an early retirement. And claiming Social Security before the age of 70 could be your ticket to achieving that goal. The danger of not waiting until age 70 to file is giving up on money that will be paid to you every month for the rest of your life. And if you go with a 4% withdrawal rate, which is what financial experts have long recommended, you'll have $120,000 a year in income. With that much money coming your way, it may not matter if you don't score the maximum monthly Social Security benefit.

Source: Daily Sun October 06, 2021 09:00 UTC