When to Claim Social Security: 62, 67, or 70?
The one decision that sets your check for life — and the earnings test that surprises people who claim while still working.
Sixty-two is the earliest age you can claim Social Security retirement benefits. It is not the default age, and treating it as one is the single most common — and most permanent — retirement mistake we see.
The arithmetic, using round numbers
If you were born in 1960 or later, your full retirement age is 67. Claim at 62 and your check is permanently reduced by about 30%. It does not recover when you reach 67. Wait past 67 and your benefit grows about 8% a year until 70, where it tops out roughly 24% above your full benefit.
For every $1,000 you would receive monthly at 67: claiming at 62 pays about $700, and claiming at 70 pays about $1,240. Cost-of-living raises then compound on whichever number you locked in, which widens the gap every year you collect.
When claiming early is right
Early claiming is the correct answer for plenty of people: health that argues against waiting, no other income to bridge the years, a job that ended earlier than planned. The point is not that 62 is wrong. The point is that it is a one-time, irreversible election that deserves ten minutes with the actual numbers before you make it.
If you are married, the decision is bigger than your own check. The higher earner's claiming age becomes the survivor's income after one of you dies — we walk through that in What Happens to Social Security When a Spouse Dies.
Still working? Know the earnings test
If you claim before full retirement age and keep earning a paycheck, Social Security holds back part of your benefit. The 2026 numbers: under full retirement age all year, you can earn $24,480 before they withhold $1 for every $2 over the limit. In the calendar year you reach full retirement age, the limit jumps to $65,160 and the withholding softens to $1 for every $3 over. From full retirement age on, there is no limit and nothing is withheld.
The part nobody explains: the withheld money is not gone forever. At full retirement age, Social Security recalculates and raises your monthly check to give it back over time. It is a delay, not a penalty. But it is still a cash-flow problem in the years you did not plan for it, and people have quit jobs over money they were always going to get back.
How to decide
Pull your statement at ssa.gov/myaccount — it shows your real number at 62, 67, and 70. Then look at three things: your health and family longevity, what other income can carry you while you wait, and, if married, whose check the survivor will keep. Those three answers usually make the claiming age obvious.
If you would like a second set of eyes, we will go through it with you against your actual statement — no charge, no obligation. Call (760) 642-1892, email [email protected], or use our contact page. Se habla español.
Important disclosures
Figures are for 2026 (SSA 2026 fact sheet: earnings test and full retirement age) and change annually. This page is educational only — not tax, legal, or financial advice.
My Legacy Management is not connected with or endorsed by the U.S. government, the Social Security Administration, or the federal Medicare program.