When Should You Claim Social Security? Age 62 vs 67 vs 70

After decades of work, deciding when to start Social Security can feel like a finish line and a starting line at the same time. It is also one of the few retirement decisions that can follow you for the rest of your life. Knowing when to claim Social Security isn't just about picking a birthday. It's about how your income, your health, and your family's future fit together.

At Vertex Capital Advisors, our experience has been that many people approach this choice with more worry than information. This guide helps explain the three possible milestone ages most people weigh (62, 67, and 70) so you can decide with confidence instead of guesswork.

What Is "Full Retirement Age"?

Your full retirement age is the point at which you qualify for 100% of the benefit you've earned through your work history. For anyone born in 1960 or later, that age is 67. Claim before it and your monthly check is permanently smaller. Wait beyond it and your check grows.

Many people are surprised that your benefit isn't a fixed number waiting for you. It's a range, and the age you choose decides where you land in it. The gap between the low end and the high end can be substantial, and it repeats every month for as long as you live.

That's why the timing deserves real thought.

When to Claim Social Security: 62 vs. 67 vs. 70

Each age comes with its own trade-offs. Here's how they generally compare.

Source: Schwab.com, Guide on Taking Social Security: 62 vs. 67 vs. 70, 2026

• Age 62: This is the earliest you can typically start retirement benefits. For those with a full retirement age of 67, claiming at 62 can reduce your monthly benefit by about 30%, and that reduction is generally permanent.

• Age 67: At full retirement age, you're eligible for your full benefit, with no reduction and no earnings limit if you keep working.

• Age 70: For each year you delay past full retirement age, your benefit grows by roughly 8%. Waiting until 70 can mean a monthly check about 24% larger than at 67.

• After 70: There is generally no added benefit to waiting past 70, so most people start by then.

• Cost-of-living adjustments: These apply at every age, so a larger starting benefit also means larger future increases.

The "best" age depends on your health, how long your savings need to last, whether you're still working, whether a spouse relies on your benefit and other potential, personal factors. For most people, the answer comes from their own numbers, not a rule of thumb.

A Strategy Worth Considering

For married couples, claiming decisions work best when they're made together. One common approach is for the higher earner to delay until 70 while the lower earner claims earlier. This gives the household some income now and locks in the largest possible benefit for later. It also matters because the surviving spouse generally keeps the larger of the two benefits, so a delayed claim can protect the partner who outlives the other.

Another approach is to use savings as a "bridge." You draw from retirement accounts in your 60s while your Social Security benefit keeps growing. Those early years can also be a useful window for tax planning, such as Roth conversions, before benefits and required distributions begin.

Neither strategy fits everyone. Running the comparison side by side often shows which path gives you more over time.

Common Misconceptions and Pitfalls

Plenty of myths surround this decision, and a few can be costly.

The first is the fear that Social Security is running out, so you should "grab it while you can." Funding challenges are real and worth watching, but acting on headlines alone can permanently shrink your income. A thoughtful decision weighs that risk alongside everything else.

Another is the assumption that Social Security and Medicare start together. Medicare eligibility generally begins at 65 regardless of when you claim Social Security. Missing your Medicare enrollment window because you delayed Social Security can lead to lasting penalties.

Finally, many people claim early while still working without understanding the earnings test. If you collect before full retirement age and earn above the annual limit, part of your benefit may be temporarily withheld. Because the rules and limits change, confirm your situation with the Social Security Administration before you file.

Why Partnering With a Financial Advisor Helps

Choosing a claiming age can feel like solving an equation with several unknowns: how long you'll live, how markets will perform, and how taxes will shift. A trusted guide can help turn those unknowns into a clear plan.

A financial advisor can help you:

• Compare your projected benefits at 62, 67, and 70

• Coordinate claiming decisions with your spouse

• Build a withdrawal plan that bridges the gap if you delay

• Manage how Social Security affects your taxes and Medicare premiums

• Avoid a permanent decision made on incomplete information

For example, a couple nearing retirement might work with an advisor to see that the higher earner waiting until 70 creates more lifetime income and a stronger safety net for the surviving spouse. Our retirement income and tax planning services are designed to bring that kind of clarity to your specific situation.

Moving Forward With Clarity

Deciding when to claim Social Security is ultimately about more than a monthly check. It's about building a retirement that feels secure, flexible, and aligned with the life you want to live. When you understand your options, the decision becomes less stressful and much more empowering.

You don't need to have every answer today, and you don't need to find them alone. With the right plan, your Social Security benefit can become a reliable foundation for the years ahead.

If you're approaching retirement and want trusted, personalized guidance on the right time to claim, our team in Fort Mill, SC, is ready to help. Get started today and build a Social Security strategy that works as hard as you did.

Important Disclosures

Investment advisory and financial planning services offered through Advisory Alpha, LLC, a SEC Registered Investment Advisor. Insurance, Consulting and Education services offered through Vertex Capital Advisors. Vertex Capital Advisors is a separate and unaffiliated entity from Advisory Alpha, LLC. All written content on this site is for information purposes only. Opinions expressed herein are solely those of Michael H. Baker, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made to other parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. This website may provide links to others for the convenience of our users. Michael H. Baker has no control over the accuracy or content of these other websites. Please note: When you access a link to a third-party website you assume total responsibility for your use of the linked website. Links and references to other websites and third-party content providers are offered for your convenience. We do not necessarily prepare, monitor, review or update the information provided by third parties. We make no representation or warranty with respect to the completeness, timeliness, suitability, or reliability of the referenced content. This material is not endorsed or approved by the Social Security Office or any other Government Agency.