Millions of Americans rely on Social Security, but many are also concerned about its dependability going forward. 60% of current retirees say their benefits are a major source of

So, anyone that claims Social Security as soon as possible — thereby incurring the largest benefit reduction (30% for those born in 1960 or later) — would shortchange themselves by thousands of dollars. That's because delaying benefits beyond age 62 results in a higher payout, though there is no advantage to delaying past 70.

Nearly all retired Americans now, or will one day, receive Social Security benefits, and those monthly payments are often used to supplement their retirement income. Although Social Security has been threatened with insolvency for decades,