When Should I Start Taking Social Security? The 2026 Breakdown

Social Security timing affects your monthly benefit for the rest of your life. Here is what you need to know before making this decision.

Your Full Retirement Age (FRA)

For anyone born in 1960 or later, Full Retirement Age is 67. That is when you receive your full Social Security benefit. Claiming before 67 permanently reduces your benefit; waiting past 67 increases it.

Claiming Early at 62

You can claim as early as 62, but your benefit is reduced by up to 30% compared to your full benefit. If you live a long life, early claiming results in significantly less lifetime income. If health is poor or you need the income immediately, early claiming may still make sense.

Waiting Until 70

Every year you delay past your FRA, your benefit grows by 8% per year up to age 70. Waiting from 67 to 70 increases your monthly benefit by 24%. For healthy individuals, delaying is often the mathematically superior choice.

The Break-Even Calculation

The break-even age — when total benefits from waiting surpass total benefits from claiming early — typically falls around age 78–80 for the 62 vs. 67 comparison. If you expect to live past that, waiting pays off.

Spousal Benefits

If you are married, the higher earner's claiming decision affects the surviving spouse's benefit. Delaying the higher earner's claim often maximizes lifetime household income.

Approaching retirement? Wisler can help coordinate your Medicare enrollment around your Social Security start date — and refer you to qualified financial planning resources.