The longer you wait, the more money you'll get
— the federal program that pays out monthly benefits to disabled and retirement-age Americans — the incentive to continue working, or at least to delay benefits, is fairly simple: The longer you wait, the more money you'll get.for today's workers is between 66 and 67 . That's the age a person who worked at least 10 years can begin claiming 100% of their Social Security benefit, which is equal to an average of monthly wages for their 35 highest-earning years, adjusted for inflation.
Age 70 is the latest it makes sense to claim Social Security benefits. With each 12-month period that benefits are delayed beyond a person's full retirement age , their benefit increases by up to 8% for a maximum of either 24% for those born in 1960 or later or 32% for those born before 1960. The benefit can increase up to age 70, regardless of whether or not the person actually retires from work. Still, the highest possible Social Security benefit for someone retiring in 2019 is
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