Nine in 10 working Americans say they plan to ignore one of the most common pieces of financial advice about Social Security: waiting until age 70 to claim benefits, which ensures higher monthly payments, according to a new study from investment firm Schroders.

Social Security allows employees to claim their benefits as soon as they turn 62, years before the so-called "full retirement age," which now stands at 67. But claiming Social Security early has a tradeoff—it lowers your monthly payment by about 30%, with those lower benefits locked in for the rest of your life.

By contrast, delaying claiming Social Security until age 70 means you'll get a more than 30% boost in your monthly checks — also locked in as long you're collecting benefits. As a result, financial experts often recommend

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