Home › Guides › Claiming at 62 vs 67 vs 70
Claiming Social Security at 62 vs 67 vs 70: What It Really Costs
The same person, three different checks
Suppose your benefit at full retirement age (67) would be $2,000 a month. Here is what claiming age does to it:
| You claim at | Monthly check | Change |
|---|---|---|
| 62 (earliest) | $1,400 | −30% for life |
| 65 | $1,733 | −13.3% |
| 67 (full retirement age) | $2,000 | your full amount |
| 70 (maximum) | $2,480 | +24% for life |
There is no benefit to waiting past 70 — the growth stops there.
Why people still claim early — and when that is right
- You need the money. Bills now beat theory later. No apology needed.
- Health and family history. Delaying is a bet on a long life. If that bet looks wrong for you, earlier can be rational.
- You have stopped working anyway and have no other income to bridge the gap.
Why waiting often wins on paper
The break-even point between claiming at 62 and at 70 typically falls around age 80–81. Live past it and the age-70 choice pays more in total for every year after — and today a 65-year-old woman has better-than-even odds of reaching her mid-80s. Two more quiet advantages of waiting: the COLA percentage compounds on a bigger base, and if you are the higher earner in a couple, your delayed benefit can become your spouse’s survivor benefit for life.
The three questions that decide it
- Can I cover expenses without the benefit for now?
- How is my health, honestly?
- Will someone else — a spouse — inherit my benefit amount as a survivor?
Join the free CheckDay beta — your 2027 COLA number by email on October 14, plus plain-English alerts when the rules change.
Join the free beta →