CNBC | Most retirees don’t delay Social Security benefits, research finds. Here’s why experts say it pays to wait

Research has found only about 8% of beneficiaries delay until age 70, the highest possible age to claim benefits, according to Ghilarducci. Because Social Security benefits are one of the few sources of guaranteed income for many retirees, having smaller monthly checks can make them more financially vulnerable.

Those who can’t delay their Social Security benefits for years can still increase their lifetime benefit income by delaying for just a few months, Ghilarducci said.

“Do whatever you can to bridge to a higher Social Security benefit amount,” Ghilarducci said.

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