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The sooner you claim benefits, the lower your payout. But what are other reasons to wait until age 70 to file?
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1. Weight of 70 can benefit you a lot.
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2. If you strongly expect to live a long life.
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3. There is also the expectation that your spouse is already receiving Social Security.
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4. Do you have other assets.
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5. If you are still working.
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The longer you wait to claim Social Security, the bigger your monthly check is going to be. But even waiting has a price to pay.
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Since almost no one knows how long they'll live, you'll be taking a definite gamble by waiting to file.
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