5 Reasons to Claim Social Security at Age 70
It's not hard to see the logic. If you wait until you are 70 to take your Social Security benefit, you will receive monthly payments that are 32% higher than the benefits you would have received at age 66, which is the retirement age for many Americans. Retirees who wait to claim can get hundreds of dollars more each month than those who take benefits early.
Rodney Brooks
An award-winning journalist, writer and author and my specialty is retirement planning and other personal finance issues. I have written for many national publications, including USA TODAY, The Washington Post, U.S. News & World Report, AARP and National Geographic. I am available to speak on personal finance, financial literacy and the racial wealth gap.
Sign Up For My Newsletter!
Subscribe for the latest news and features
The author tells the history of the Freedman’s Savings Bank, how it grew much too quickly, why it failed and the impact on Black America. The Freedman’s Bank offered a safe depository for formerly enslaved people, expanded quickly and gained millions in deposits – mostly ranging from $5 to $50. But inexperience and corruption doomed it to failure, costing may of the small depositors their savings.
