When Should You
Claim Social Security?
The decision isn't simply about when you can claim. It's about how Social Security may fit into your broader retirement income strategy.
Three Possible Paths.
One Personal Decision.
Social Security gives you choices about when to begin receiving retirement benefits. The right decision depends on your circumstances, your income needs, your health and longevity considerations, your other retirement resources, and how Social Security fits into your overall plan.
Start Earlier
You can begin receiving Social Security retirement benefits as early as age 62. Starting before your full retirement age generally results in a reduced monthly benefit.
Reach Your Full Benefit
For people attaining age 62 in 2026, Social Security lists full retirement age as 67. Your full retirement age depends on your year of birth, so it is important to verify your individual age with the Social Security Administration.
Wait Longer
If you delay retirement benefits beyond full retirement age, your monthly benefit can increase through delayed retirement credits. Social Security says the increase continues until age 70.
It's not just about when to claim.
It's about how your Social Security decision fits together with the rest of your retirement income.
The age you claim is only
part of the decision.
Social Security can be an important source of retirement income. But the decision about when to begin benefits should be considered in the context of your broader retirement picture.
Your Income Needs
How much income will you need to support your lifestyle once you stop working?
RETIREMENT CASH FLOWHow Long You May Need Income
Retirement income may need to support you for many years. Longevity is an important part of the conversation.
LONG-TERM PLANNINGWhether You're Still Working
If you continue working while receiving Social Security, your circumstances and earnings may affect how your benefits are treated.
WORK & RETIREMENTOther Retirement Income
Pensions, investments, annuities and other sources of income can influence how much flexibility you have around claiming.
INCOME SOURCESSpouse & Family Considerations
Your decision may need to be considered alongside your spouse's benefits and your family's overall retirement income strategy.
HOUSEHOLD PLANNINGTaxes & Your Overall Plan
Social Security should be considered alongside your broader retirement income and tax picture, rather than viewed in isolation.
RETIREMENT STRATEGYThere isn't one claiming age that is right for everyone. The goal is to understand your choices and evaluate how each option fits into your individual retirement income strategy.
Claim Earlier.
Or Wait Longer.
The timing of your Social Security benefits can affect the amount of monthly income you receive. Understanding the trade-offs can help you have a more informed retirement-income conversation.
Income Begins
Sooner
Beginning benefits earlier can provide income sooner, but claiming before full retirement age generally means receiving a reduced monthly benefit.
- + Earlier access to benefits
- + May reduce the need to draw from other assets
- − Monthly benefit may be lower
income make
sense for you?
Potentially Larger
Monthly Benefit
Delaying benefits beyond full retirement age can increase the monthly retirement benefit, with delayed retirement credits available until age 70.
- + Potentially higher monthly benefit
- + May provide greater income later in retirement
- − Requires other resources while waiting
Social Security claiming decisions can have long-term consequences. The best approach depends on your individual circumstances—not simply your age.
Social Security is
one piece of the puzzle.
A retirement income plan may involve several sources of income. Understanding how those sources work together can help you make more informed decisions about when to claim Social Security.
Build the picture
before making the decision.
Instead of looking at Social Security in isolation, consider how it fits alongside the other resources available to you throughout retirement.
Understand where your retirement income is expected to come from.
Consider which income sources are available at different stages of retirement.
Evaluate how the Social Security decision fits into the overall plan.
The goal isn't simply to maximize one number. It's to understand the role each income source may play in your retirement and make decisions with the full picture in mind.
Five mistakes that can
make the decision harder.
Social Security decisions can involve more than simply choosing an age. Taking time to understand the broader retirement picture can help you approach the decision with greater clarity.
Looking only at the age you can claim
Being eligible to claim does not necessarily mean that claiming immediately is the best fit for your individual retirement-income needs.
Ignoring where your income comes from
Social Security is only one potential source of retirement income. Your other resources may affect how much flexibility you have around claiming.
Thinking only about today's income
Retirement may last for decades. A decision that provides income today should also be considered in the context of future retirement needs.
Making the decision without considering the household
Married couples and families may have additional considerations when evaluating retirement income decisions.
Treating Social Security as a stand-alone decision
The claiming decision can be more meaningful when viewed alongside your retirement income needs, assets, other income sources and overall plan.
Your retirement
isn't a one-number decision.
Social Security is one part of a much larger retirement income picture. Before making a decision about when to claim, it can be helpful to understand how that choice fits with the rest of your plan.
Review the different claiming ages and understand the general trade-offs.
Consider Social Security alongside your other retirement income and resources.
Understand the questions worth discussing before deciding when to claim.
A thoughtful retirement-income conversation begins with understanding your individual goals, resources and priorities.
Your Social Security decision
deserves the full picture.
If you're approaching retirement and thinking about when to claim Social Security, a conversation about your broader retirement income picture may help you better understand the questions worth considering.
This material is provided for educational purposes only and is not intended to provide individualized investment, tax or legal advice. Social Security rules and benefits depend on individual circumstances and may change. Consider consulting appropriate professionals regarding your specific situation.