There's a reason some people aim to file for Social Security at age 70 despite being entitled to their monthly benefits without a reduction much sooner than that. For each year a Social Security claim is delayed past full retirement age (FRA),

In 2025, the maximum monthly benefit Social Security will pay is $5,108. To be clear, though, that's higher than the program's maximum benefit at full retirement age this year. Those looking at $5,108 a month in Social Security need to delay their claims until the age of 70 to lock in payments that high.

As retirement approaches, deciding when to claim Social Security is crucial. While waiting until 70 can boost your monthly benefits, there are valid reasons to consider applying earlier.