The best time to claim depends on your health, finances, and life expectancy

You can start taking Social Security as early as age 62, but your monthly payment will be smaller than if you wait. If you delay until 70, your payment grows by about 8% each year you don't claim. The "right" age is different for everyone — it depends on whether you need the money now, how long you expect to live, and whether you have other income.

This guide explains what happens to your payment at different ages, what to watch for before you claim, and how to think through the decision with your doctor and a financial advisor.

Key Takeaways

  • Your monthly payment is roughly 30% smaller at 62 than at your full retirement age, and about 76% smaller than at 70.
  • You must be at least 62 to claim, and you cannot claim on someone else's record until they have claimed on their own or reached 62.
  • If you claim before your full retirement age and still work, Social Security will reduce your payment for every dollar you earn above a yearly limit.
  • The break-even point — when delayed claiming catches up to early claiming — is usually around age 80 to 82, but varies based on your life expectancy and health.
  • You can change your mind once: if you claim early and later regret it, you can withdraw your claim within 12 months and claim again later at a higher rate.

How your payment changes by age

Social Security calculates your payment based on your earnings history. Once that amount is set, your age when you claim determines what percentage of it you actually receive each month.

If your full retirement age is 67 (the age for people born between 1943 and 1954), claiming at 62 gives you about 70% of your full payment. Claiming at 70 gives you about 124% of your full payment. The exact percentages shift slightly depending on your birth year, but the pattern is the same: earlier claiming means a smaller check for life, and later claiming means a larger check for life.

The Social Security Administration publishes a table showing the exact percentage for your birth year. You can find it on their website or ask at your local Social Security office.

When claiming early makes sense

Claiming at 62 is the right choice if you need the money now, have health reasons to believe you will not live into your 80s, or have already stopped working and have no other income. It is also reasonable if you have a spouse or ex-spouse whose record you could claim on later — you can claim on your own record early and switch to a higher payment on theirs at full retirement age or later.

If you claim before your full retirement age and you are still working, Social Security will subtract $1 from your benefit for every $2 you earn above a yearly limit. In 2024, that limit is $23,400, but it changes each year. Once you reach your full retirement age, the earnings limit disappears and you get your full payment no matter how much you work.

Ask your doctor whether your health history suggests you are likely to live past 80. If you have a serious chronic illness, a family history of early death, or your own sense that your time is limited, claiming early can mean you receive more total money over your lifetime, even though each check is smaller.

When delaying makes sense

Delaying past your full retirement age makes sense if you are in good health, still working and earning good income, or have other savings to live on. It also makes sense if you are married and your spouse will outlive you — your surviving spouse can receive a payment based on your record, and that payment is higher if you delayed.

If you are the higher earner in a couple, delaying your claim is often the best strategy for the household. Your spouse can claim on their own record at their full retirement age, and later claim a higher payment based on your delayed record. This way the household gets income sooner and a larger payment later.

Delaying also protects you against inflation. Your payment is adjusted each year for cost of living, but the base amount — the amount before adjustments — is higher if you wait. This matters most if you live well into your 80s and 90s.

What to check before you claim

Before you contact Social Security, pull your earnings record from ssa.gov and make sure it is correct. If you worked under a different name, had years with very low earnings, or took time out of the workforce, the record might be incomplete. You can correct errors by calling Social Security or visiting in person with proof of your earnings (old tax returns or W-2s).

Check whether you have been married before. If you were married for at least 10 years, you may be able to claim on an ex-spouse's record even if they have remarried. You do not need their permission, and claiming on their record does not reduce their payment. This can be a significant advantage if your ex-spouse earned much more than you did.

If you are still working, calculate how much you will earn this year. If you claim before your full retirement age, Social Security needs to know your expected earnings to reduce your payment correctly. You can update this estimate later if your income changes.

How to claim and what happens next

You can claim online at ssa.gov, by phone at 1-800-772-1213, or in person at your local Social Security office. Online is usually fastest — you can complete the process in about 15 minutes. By phone, expect to wait on hold, but an agent will walk you through it. In person, you may wait in the office, but you can bring documents with you if you have questions.

Have your birth certificate, proof of citizenship or legal residency, and your most recent tax return or W-2 ready. If you are claiming on a spouse's or ex-spouse's record, bring your marriage certificate and divorce decree.

After you claim, Social Security will mail you a notice within two weeks saying whether your claim was approved and when your first payment will arrive. Your first payment usually comes 3 to 5 business days after approval. You can set up direct deposit to your bank account, which is faster and safer than waiting for a check.

Changing your mind after you claim

If you claim at 62 and later regret it, you have one do-over: you can withdraw your claim within 12 months of claiming. When you withdraw, you must repay all the benefits you received, but your record is cleared as if you never claimed. You can then claim again later at a higher rate.

This option is useful if your health improves, you inherit money, or your circumstances change in a way that makes waiting worthwhile. You cannot use this option more than once, and you must act within 12 months of your first claim.

After 12 months, you cannot withdraw. You can still delay taking your payment — Social Security will hold it — but you cannot undo the claim itself or get back the money you already received.

Questions to ask your doctor and financial advisor

Before you decide, talk to your doctor about your health outlook. Ask whether your chronic conditions, medications, or family history suggest you are likely to live past 80, past 85, or past 90. This is not a prediction — nobody knows — but it helps you think through the trade-off between a smaller payment now and a larger payment later.

If you have a financial advisor, ask them to run the numbers for your situation. They can show you how much total money you would receive by claiming at 62, 67, and 70, assuming different life expectancies. This makes the choice concrete instead of abstract.

Ask your spouse or partner what they think, especially if you are married. Your decision affects their household income and their survivor benefits, so it should be a joint conversation.

Frequently Asked Questions

Can I claim Social Security and still work?

Yes, but if you claim before your full retirement age, Social Security reduces your payment for every dollar you earn above the yearly limit. Once you reach your full retirement age, you can work and earn as much as you want without any reduction to your payment.

What if I was married more than once?

You can claim on the record of any ex-spouse you were married to for at least 10 years, as long as you are at least 62 and not currently married. You can claim on your own record and switch to an ex-spouse's record later, or claim on an ex-spouse's record first and switch to your own record later. Talk to Social Security about which order makes sense for your situation.

Does claiming Social Security affect Medicare?

No. You can claim Social Security at any age without affecting your Medicare coverage. However, if you do not claim Social Security by age 70, you should still sign up for Medicare at 65 to avoid late-enrollment penalties on your premiums.

What happens to my Social Security if I move out of the country?

You can receive Social Security payments while living in most countries. However, some countries have restrictions, and you may need to report your residence to Social Security. Call 1-800-772-1213 to ask about your specific country before you move.

Can I claim on my spouse's record if they have not claimed yet?

Not until they reach 62 and claim on their own record, or until they reach 70. Once your spouse claims, you can claim on their record even if you have not reached your full retirement age, as long as you are at least 62.