When should you claim Social Security?
When you claim changes your monthly benefit for life. We help you weigh the timing alongside your taxes, savings and spouse’s benefits.
Waiting can mean a bigger check, for life.
For anyone born in 1960 or later, full retirement age is 67. Claim earlier and your benefit is permanently reduced; wait past 67 and it grows each year until 70. The right answer depends on your health, other income, marriage and taxes. That’s where planning comes in.
| When you claim | Monthly benefit vs. full benefit |
|---|---|
| Claim at 62 | about 70% |
| Claim at 67 (full retirement age) | 100% |
| Claim at 70 | about 124% |
Social Security claiming worksheet
Compare your benefit at 62, 67 and 70 before you file.
What to know before you file.
- 01It’s based on your top 35 yearsYour benefit uses your highest 35 years of earnings. Fewer years means zeros get averaged in.
- 02Up to 85% can be taxableHow much depends on your other income. IRA withdrawals can make more of your benefit taxable.
- 03Working early can pause benefitsBefore full retirement age, earning over an annual limit means some benefits are temporarily withheld.
- 04Spouses have optionsA spousal benefit can be up to 50% of the worker’s full retirement benefit.
- 05Delaying protects survivorsWhen the higher earner waits, the surviving spouse can inherit that larger benefit.
- 06Medicare comes out of your checkPart B premiums are usually deducted from your monthly benefit.
- 07Benefits adjust for inflationA cost-of-living adjustment is applied each year.
- 08You get one do-overWithin 12 months of claiming, you can withdraw your application by repaying the benefits received.
Social Security Timing: When to Claim and How It’s Taxed
Get your claiming questions answered live by Mary Garza.
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Platinum Tax Advisory is not affiliated with or endorsed by the Social Security Administration or any government agency. This page is general information, not advice for your situation.