Mistake No. 5: Waiting too long to claim your benefits
Your monthly benefits may increase the longer you wait, but this doesn’t mean it’s always best to wait as long as possible. In theory, it doesn’t matter whether you claim your benefits early or late.
The amount of benefit reduction you would have by claiming Social Security early and the increase in benefit you have calculated for delaying your claims will…even out! But this goes for people who tend to hit the average life expectancy. For those who are in poor health, claiming early might come with more benefits for the rest of their lives.
