Claiming Social Security: Earlier or Later?
The trade-off is a smaller payment for more months versus a larger payment starting later.
Start with your own statement
Your full-retirement-age benefit, or PIA, is a better starting point than an average benefit. Obtain your estimate directly from your my Social Security account; you do not need to share your earnings record with this site.
Understand the permanent adjustment
For a worker with FRA 67, starting at 62 reduces the retirement benefit by 30%. Waiting until 70 adds 24% to the FRA amount. The monthly factors depend on birth year and the exact month benefits begin.
A break-even age is only one comparison
A cumulative-payment break-even ignores investment returns, taxes, mortality, later COLAs, spouse and survivor payments. Health, household needs, and how you bridge the gap matter. Our claiming-age tool shows the arithmetic without choosing for you.
Keep Medicare separate
Waiting for Social Security does not automatically delay the need to consider Medicare enrollment at 65. Employer coverage and enrollment periods affect whether a delay is appropriate.
Check the sources.
Data checked October 1, 2026.