The best age to claim Social Security

Editor’s note: This article first appeared in Money Matters, a newsletter from Britannica Money, on June 28, 2026.

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The math matters, but so do timing, work plans, and your health.

© chas53, dezign56, poravute, Kornienko Alexandr/stock.adobe.com; Photo illustration Encyclopædia Britannica, Inc.

If you spend enough time reading retirement advice, you’ll eventually encounter the same guidance: Wait as long as possible before claiming Social Security. The logic is straightforward. The longer you delay, the larger your monthly checks are.

And yet millions of workers in the United States still claim benefits at 62, the earliest possible age. Some simply need the income. Others, worried about their health or the solvency of the Social Security system, decide it’s better to start taking benefits sooner rather than later. In reality, the “best” age to claim benefits often depends as much on your lifestyle as your life expectancy.

One reason why financial advisors often recommend delaying Social Security is simple: If you wait, the amount of your monthly check will likely increase substantially. You can begin claiming benefits as early as age 62, but if you do, your monthly payment is permanently reduced. For workers born in 1960 or later, full retirement age—the age at which you qualify for your full Social Security benefit—is 67.

Waiting beyond full retirement age increases your benefit even more. Social Security benefits grow by about 8% for every year that you delay claiming, up to age 70. For example, someone eligible for a $2,000 monthly benefit at full retirement age could receive roughly $2,480 a month by waiting three more years.

The trade-off, of course, is time. Claiming early means receiving more checks over your lifetime, while delaying means fewer—but larger—payments. That’s why discussions about “breakeven ages” often focus on how long you expect to live and whether you need the income sooner.

The numbers behind Social Security can be useful, but retirement decisions rarely happen under ideal conditions. A larger monthly benefit at 70 may look appealing on paper, yet retirement spending often changes over time. Many retirees spend more earlier in retirement when travel, hobbies, and other long-delayed plans keep them active.

Health care can also reshape the equation. Medicare eligibility doesn’t begin until age 65, and if you retire early, you may need to figure out how to pay for several years of potentially expensive health insurance coverage before Medicare kicks in. For some households, the cost of health care premiums can significantly affect whether early retirement is financially practical.

Continuing to work can complicate the decision, too. If you claim Social Security before full retirement age while still earning a substantial income, some of your benefits may be temporarily withheld. Many people are surprised to learn that working while claiming early can reduce their monthly payments.

Ultimately, the “best” claiming strategy often depends on realities that no calculator can fully take into account.

There’s no universally correct age to claim Social Security, but a few practical steps can help you weigh the trade-offs and make a more informed decision.

A fatter Social Security check matters to many retirees. So do flexibility, income, and peace of mind earlier in life. The challenge is figuring out which trade-offs matter most to you.