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Retirement
Social Security: Claim at 62, 67, or 70?
5 min readBy Pauline Githara
There’s no single “best” age to claim Social Security — but there is a best age for you. Here’s how to think about it.
Social Security is the most valuable inflation-adjusted income most people will ever own. Claiming well can add tens of thousands of dollars to your lifetime income.
The three anchor ages - 62: The earliest you can claim. Benefits are permanently reduced — often by 25–30%. - Your Full Retirement Age (66–67): You get your “full” benefit. - 70: Your benefit grows about 8% per year from FRA to 70 — and then stops growing.
What actually matters in your decision - Health and family longevity. Delayed claiming is a longevity bet. - Spouse’s benefit. The higher earner’s claim usually becomes the surviving spouse’s benefit. - Other income. Pensions and savings affect whether you can afford to wait. - Tax consequences. Claiming affects Roth conversion windows and IRMAA thresholds.
A rule-of-thumb (not a rule) If you’re married and the higher earner, delaying to 70 often pays off — for both of you. If you’re single with average health and limited other savings, claiming earlier may be reasonable.
There’s real money on the table. It deserves more than a gut feeling.
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