What Happens if You Forget to File for Social Security Before Your 70th Birthday?

By Maurie Backman From Kiplinger’s Personal Finance

Given that many private-sector employers have phased out pensions and that the median retirement savings balance among Americans 65 to 74 was only $200,000 as of 2022, Social Security is clearly an extremely important income source for retirees. Many older Americans rely on Social Security to cover their basic expenses. And even those with decent savings appreciate having those benefits to supplement their retirement plan withdrawals.