When should I claim Social Security?

Question

Accepted Answer

You can claim Social Security as early as 62 or as late as 70. Claiming before your full retirement age permanently reduces your monthly benefit, while each year you delay past full retirement age (up to 70) adds roughly 8%. The best age depends on your life expectancy, your spouse’s benefit, and whether you need the income now — a longer life expectancy generally favors delaying, because the larger monthly check eventually outweighs the earlier payments.

Social Security Claiming Age Calculator