The trade-off in one sentence
Claiming early gets you more checks, and waiting gets you bigger checks. Which one pays more depends mostly on how long you live, which nobody knows for sure. That is why it helps to see the numbers side by side for a few different lifespans before you decide.
Try moving the "live to" slider. At 78, claiming at 62 usually wins. At 85, 67 or 68 tends to come out ahead. At 90 and beyond, waiting until 70 wins by a wide margin. The age you claim also locks in your check for life, and every yearly raise is a percentage of it, so a bigger starting check grows into a much bigger one over time.
Your full retirement age
Full retirement age is when you get 100% of your benefit. It is 67 for anyone born in 1960 or later, and between 66 and 67 for people born from 1955 to 1959. Claiming before it shrinks your check for life. Claiming after it raises your check by 8% for each year you wait, until 70. Read more in full retirement age reaches 67.
Other things that should shape your choice
Your health and family history. If you have serious health problems, claiming earlier often makes sense. If your parents lived into their 90s, waiting is usually worth it.
Whether you are still working. Before full retirement age, Social Security holds back part of your check if you earn more than $25,560 in 2027. Many people who keep working wait to claim. See the 2027 earnings limit.
Other income to bridge the gap. A pension, savings or a spouse’s income can carry you to 67 or 70. Teachers and public workers who retire with a pension in their 50s are often in a strong position to wait.
Your spouse. When one spouse dies, the survivor keeps the larger of the two checks. If the higher earner waits until 70, that bigger check can protect the survivor for decades. Use the spousal and survivor calculator to see both sides.
Questions
What is the best age to claim Social Security?
There is no single best age. Claiming at 62 pays the most checks, and waiting to 70 pays the biggest checks. If you expect to live past your early 80s, waiting usually pays more in total. If your health is poor or you need the money now, claiming earlier can make sense.
How much bigger is my check if I wait?
For anyone born in 1960 or later, claiming at 62 pays 70% of your full benefit, claiming at 67 pays 100%, and claiming at 70 pays 124%. Each year you wait between 67 and 70 adds 8%.
What is the break-even age?
It is the age when the total you have received by waiting catches up with the total you would have received by claiming earlier. For 62 versus 67, it is usually around 78 or 79. For 67 versus 70, it is usually around 82 or 83.
Does this calculator include yearly raises?
It shows everything in today’s dollars. Yearly cost-of-living raises apply the same percentage to every claiming age, so they do not change which age comes out ahead.
Should married couples claim at the same time?
Often not. When one spouse dies, the survivor keeps the larger check, so the higher earner waiting to 70 can protect the survivor for many years. Use the spousal and survivor calculator to see both sides.