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For healthy retirees with a long life expectancy, the higher benefit from delaying is usually the better choice.
If you live to 85, thats an extra $69,000.
For most, Social Security is a major source of income, so maximizing it is key.
Some clients worry about not living long enough to recoup the benefits of waiting, said Fritch.
However, a higher benefit provides better protection against inflation and market volatility, which threatenincome and savings.
This is especially true for those who have someone who will depend on their benefits after theyre gone.
By claiming now, you could inadvertently increase your tax bill and reduce the purchasing power of your benefits.
If that applies to you, waiting might be your best or only option.
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