Benefits are adjusted annually for inflation, and they are not affected by the ups and downs of financial markets. Perhaps most important, benefits are guaranteed for life, which makes Social Security an important form of insurance against the risk that you’ll run out of money late in life. That can be especially important for women, who tend to outlive men but also earn less income, generating lower levels of retirement assets.For many individuals, the best answer is to delay claiming as long as possible, up to age 70.Your monthly Social Security benefit amount depends on when you file. You can claim the retirement benefit as early as age 62, or wait as late as age 70, but the amount hinges on your full retirement age — the point when you qualify to receive 100 percent of the benefit you have earned. Currently, fu …
