Few retirement conundrums are more confounding than this question: When should I claim Social Security benefits?

The credentialed financial advisers whose columns appear on our Wealth Creation Channel have plenty of insights to share, from common rules of thumb to specific scenarios from their own clients that could be enlightening to others struggling with this all-important decision.

Justin Goodbread: It's a Question of Health and Wealth

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Obviously, as tempting as it is to take the money and run early on, if you delay benefits, you'll garner the greatest advantage possible of maximizing your income -- an 8% growth on your benefits per year for the period after full retirement age until you reach age 70. So, if your family history shows a trend of health and longevity, by all means, delay those benefits and subsidize your early retirement years with money from your other assets. You could end up with up to 32% more in benefits if your full retirement age is 66, just by waiting until age 70.

On the flip side, if you are in poor health and your body is worn down from your career, or maybe the average life expectancy in your family is just 75, then taking Social Security early could be the right option for you.

The rule of thumb is if you have health, wealth and longevity on your side, delay doing so as long as possible to ensure you end up with the greatest amount of income possible.

-- Justin Goodbread, Founder and CEO of Heritage Investors

Marguerita Cheng: A Cancer Survivor Decides to Take His Benefits Early

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In 2000, my client was 59½ and found himself experiencing many life transitions. He was a two-time cancer survivor. His wife suffered two mini-strokes, and then she had a major stroke and died.