Choosing when to claim your Social Security benefits is an important decision that determines the monthly benefits you'll receive for the rest of your life. Conventional wisdom suggests you should wait to claim until age 70 to increase longevity protection or maximize your wealth. However, recent Vanguard research, Claiming Social Security early: A spectrum of breakeven and longevity risks (PDF), has offered a new perspective.
Here's a quick guide to help you determine if an early claiming strategy might be right for you: