Deciding when to claim Social Security is one of the biggest retirement choices many Americans make.
For years, age 65 was seen as the traditional retirement age. But after changes passed by Congress in 1983, the full retirement age gradually increased.
Today, full retirement age is 67 for people born in 1960 or later.
That does not mean everyone must wait until 67. You can claim as early as 62, wait until full retirement age, or delay until 70 for a larger monthly check.
Each choice has benefits and drawbacks.
Claiming Social Security At 62
Claiming at 62 gives you access to benefits as early as possible.
This can be helpful if you need income right away. Some people claim early because they lost a job, face health problems, want to reduce work hours, or simply cannot afford to wait.
It can also make sense as part of a household strategy. For example, one spouse may claim early while the other waits for a larger benefit.
However, claiming at 62 comes with a permanent reduction.
If your full retirement age is 67, your monthly benefit could be reduced by as much as 30%. That lower payment continues for the rest of your life.
There is also an earnings limit if you keep working while collecting benefits before full retirement age. In 2026, the limit is $24,480. If you earn more than the allowed amount, part of your benefit may be temporarily withheld.
Claiming Social Security At 67
For many people born in 1960 or later, age 67 is full retirement age.
At this point, you receive 100% of the benefit you earned based on your work history.
Claiming at 67 can provide a balanced option. You avoid the early claiming penalty while still beginning benefits before age 70.
Another advantage is that the earnings limit no longer applies. You can work and collect Social Security without having your benefit reduced because of your wages.
But waiting until 67 is not always possible.
If you need money sooner, delaying benefits may force you to drain savings, take on debt, or struggle with basic expenses.
Health is also an important factor. If you have serious medical issues or a shorter life expectancy, waiting longer may not provide the best value.
Claiming Social Security At 70
Waiting until 70 can produce the largest monthly check.
For every year you delay past full retirement age, your benefit increases by about 8%. If your full benefit at 67 would be $2,000 per month, waiting until 70 could raise it to about $2,480.
That bigger check can help reduce pressure on personal savings.
It may also provide more security later in retirement, especially if you live into your 80s or 90s.
Still, delaying until 70 has downsides.
If you have already stopped working, waiting may stretch your budget. You may need to rely more heavily on savings during the gap years.
There is also an opportunity cost. By waiting, you give up several years of monthly payments that could have been used for living expenses, debt repayment, travel, or investments.
How To Decide The Best Age
There is no single best age for everyone.
Your decision should depend on your health, savings, job situation, spouse’s benefits, debt, monthly expenses and life expectancy.
People who need income immediately may choose 62. Those who want the full earned benefit may prefer 67. Those with strong savings and good health may benefit from waiting until 70.
Claiming Social Security at 62, 67 or 70 can all make sense depending on your personal situation.
Age 62 offers early income but smaller monthly checks. Age 67 provides full benefits without an earnings limit. Age 70 offers the biggest payment but requires patience and financial flexibility.
Before claiming, compare your needs carefully and consider speaking with a retirement or financial advisor.