In 2019, about 64 million Americans will receive over one trillion dollars in Social Security benefits, according to the Social Security Administration’s Social Security Fact Sheet. Those Americans will lose an average of $111,000 per household over a lifetime by taking Social Security benefits too early into their retirement, rather than using their own savings.

Only 4% of retirees took Social Security at the financially optimal age, which, for 83.4% of Americans, was age 67 or older. The best age depends on a host of factors, including life expectancy, other income sources, future costs in retirement and if you’re married or still working.
Fortunately, there are general rules of thumb that will get you close to your best claim age:

• Nearly no one is better off claiming before 65.
• Nearly everyone is better off claiming between 67 and 70.
• If you’re married, the person who earned the most should wait until 69 or 70. The person who made less can claim at 66 or 67.

— Read on www.usatoday.com/story/money/2019/06/28/social-security-claim-too-early-and-lose-100-000-retirement/1572620001/