What is one potential advantage of delaying Social Security benefits past the full retirement age?

Delaying Social Security benefits past the full retirement age can lead to higher monthly benefits due to what is known as delayed retirement credits. When an individual chooses to wait beyond their full retirement age—up until age 70—Social Security increases the amount of the monthly benefit. This increase is calculated based on the number of months the benefits are delayed, resulting in a percentage increase that enhances the future monthly payments.

This approach can be particularly advantageous for those who anticipate living longer or those who wish to maximize their lifetime Social Security income. For example, if a person delays benefits, they not only receive a higher monthly amount once they start collecting, but they may also benefit from a greater total payout over their lifetime if they live into their 80s or beyond.

The other options do not provide similar benefits: lower monthly benefits would be a disadvantage, one-time bonuses are not a feature of Social Security, and immediate eligibility for benefits does not apply to the context of delaying until after full retirement age.