Investing for a 58-Year-Old
Social Security claiming strategy becomes a central planning item at age 58. Delaying benefits from age 62 to age 70 increases the monthly payment by approximately 76% in total (roughly 6-7% per year before full retirement age, then 8% per year after full retirement age up to 70). For someone with good health and longevity in their family, delay is typically worth the wait.