The economy of the United States is always evolving, as well as its social security system. There are some key changes to expect in 2020, including the 1.6% cost-of-living inflation adjustment.
This article addresses the financial aspects of this question. There are other non-financial considerations that do need to be considered in making the decision to delay your Social Security benefits.
If you are not already, one day you will most likely be lucky enough to reach age 70. At that time, you will also likely be aware of the Required Minimum Distribution rules that will apply to any pre-tax sheltered retirement accounts (such as IRA and 401k accounts) that you have.
Investment Management Corporation, an investment advisory firm located in Roanoke Va. has calculated how much income can be safely withdrawn to make sure it will last for as long as needed.
In general, your retirement plan is safe from claims by other people. Federal law does make an exception for family support and the division of property at divorce...
