(The Center Square) – The majority of Americans should wait until they’re age 70 to begin collecting their Social Security benefits to maximize their monthly payments, according to a study published by the National Bureau of Economic Research.

“Americans are notoriously bad savers,” the authors of the report state. “Large numbers are reaching old age too poor to finance retirements that could last longer than they worked.”

Originally published on thecentersquare.com, part of the BLOX Digital Content Exchange.