When Should You Take Social Security? 62 vs. 67 vs. 70 in 2026

By Leah Hadley, AFC®, CDFA®. Last updated September 2026 with the current Social Security figures.

"When should I start taking Social Security?" is one of the questions we hear most often from people approaching retirement. It sounds like it should have a simple answer. It does not, because the best choice depends on your health, your other income, your marital status, your taxes, and how long you expect to work. Let's walk through how the decision works and what to weigh so you can choose on purpose instead of by default.

How Does Your Claiming Age Change Your Benefit?

Your full retirement age (FRA) is the age when you are entitled to 100% of the benefit you have earned. For anyone born in 1960 or later, that age is 67. If you were born earlier, it falls between 66 and 67. You can find yours on the Social Security Administration's website.

Here is how your claiming age changes what you receive each month, using a full retirement age of 67.

For context, the Social Security Administration reports that the average retired worker received about $2,071 per month in early 2026, after this year's 2.8% cost-of-living adjustment. The maximum benefit for someone retiring at full retirement age is $4,152 per month. Your own number depends on your 35 highest-earning years, so the best place to start is your personal statement at ssa.gov/myaccount.

Is Waiting Until 70 Always Best?

You will often hear that you should wait until 70. In pure dollar terms, delaying often works out well, especially for people who live into their 80s and beyond. Since many of us now work well into our late 60s and 70s, waiting can be realistic.

But you are not "many families." You are your family, and a general rule of thumb may not fit your situation. These are the factors that most often shift the answer.

• Other income sources. If you have few other ways to pay your bills once your paychecks stop, you may not have the luxury of waiting. If you have savings or a pension to bridge the gap, delaying becomes more realistic.
• Life expectancy. Waiting until 70 pays off only if you live long enough to collect the larger checks. The Social Security Administration has a life expectancy calculator based on averages. Your health, lifestyle, and family history matter too.
• Legacy goals. If leaving money to heirs or charity is a priority, your plan for which accounts to spend first may influence when you claim.
• Whether you are still working. If you claim before full retirement age and keep working, benefits can be temporarily withheld. In 2026, $1 is withheld for every $2 you earn above $24,480. In the calendar year you reach full retirement age, $1 is withheld for every $3 you earn above $65,160. Once you reach full retirement age, there is no limit. Withheld benefits are not lost. Your monthly benefit is recalculated upward at full retirement age to account for them.
• Taxes. Up to 85% of your Social Security benefit can be taxable, depending on your other income. Your benefits also count toward the income that determines Medicare Part B and Part D surcharges, which look back at your income from two years earlier. Broad tax planning can influence your timing.
• Other circumstances. Being a business owner, living abroad, qualifying for disability, or having children who qualify for benefits on your record can all change the math.

How Does Marital Status Change the Decision?

Marriage adds a layer, because two people are involved and one of them will likely be the survivor. This is where many households leave the most money on the table.

If you are married. The higher earner's claiming age matters most. When one spouse passes away, the survivor generally keeps the larger of the two benefits. That means delaying the higher earner's benefit can protect the surviving spouse for decades, even if the higher earner does not live to 90.

If you are a spouse. You may be eligible for a spousal benefit of up to 50% of your partner's full benefit if that is higher than your own. Spousal benefits do not grow past full retirement age, so there is no reason to delay claiming one beyond that point.

If you are widowed. Survivor benefits can start as early as 60, and in some cases you can claim a survivor benefit first and switch to your own benefit later, or the reverse. The order can make a meaningful difference.

If you are divorced. If your marriage lasted at least 10 years, you are currently unmarried, and you are at least 62, you may be able to claim benefits based on your former spouse's record. This does not reduce what your former spouse receives, and they are not notified. For many women, this is an important and often overlooked part of post-divorce retirement planning. If you have also received a settlement, our guide to managing and investing your financial settlement after divorce shows how Social Security fits alongside the rest of your retirement rebuild.

What About Concerns About the Future of Social Security?

It is a fair question, and it comes up often. The Social Security Trustees' 2026 report projects that the combined trust funds can pay 100% of scheduled benefits until 2034, and about 83% of scheduled benefits after that if Congress takes no action. For the retirement fund on its own, the projected date is 2032.

That is a real funding gap, but it is not the same as Social Security disappearing. Congress has changed the program before and has many options for closing the gap. It is worth building your plan on a range of realistic outcomes rather than on fear. Claiming early out of worry about future cuts locks in a permanently lower benefit, and any changes Congress makes would generally affect beneficiaries broadly. We recommend making this decision based on your own needs and timeline, and revisiting your plan if the law changes.

Can You Change Your Mind After You Claim?

Only within limits. You can withdraw your application within 12 months of claiming, though you must repay what you received. If you reach full retirement age, you can also voluntarily suspend benefits to earn delayed credits until 70. And if you delayed past full retirement age and find you need the money, you can generally request up to six months of retroactive benefits. Because these options are narrow, it helps to decide carefully up front.

Control What You Can. Let Go of What You Cannot.

There is a lot to weigh here, and no one can predict how long they will live or what Congress will do. What you can do is use the information you have. You know your marital status. You can look up your benefit estimates. You can make reasonable assumptions about your health, how long you will work, and what other income you will have.

After that, go easy on yourself if things do not go exactly as planned. Use what you know, make a thoughtful decision, and adjust as your circumstances change. That is what good planning looks like.

Frequently Asked Questions

What is the best age to start taking Social Security?

There is no single best age. Waiting until 70 gives you the largest monthly benefit and often works out best for people who expect a long life or who are the higher earner in a married couple. Claiming earlier can make sense if you need the income, have health concerns, or want to start sooner and accept a smaller check.

How much more do you get by waiting until 70?

For someone with a full retirement age of 67, claiming at 70 pays about 124% of the full benefit, compared with about 70% at age 62. That is roughly 77% more per month at 70 than at 62. Benefits grow about 8% for each year you delay past full retirement age.

What is the full retirement age?

It is 67 for anyone born in 1960 or later. For people born earlier, it ranges from 66 to 67, depending on birth year.

Can I work and collect Social Security at the same time?

Yes. Before full retirement age, benefits are reduced if your earnings exceed the annual limit, which is $24,480 in 2026. In the year you reach full retirement age, a higher limit of $65,160 applies. After full retirement age, there is no limit, and any benefits withheld earlier are added back into your monthly benefit.

Is Social Security taxable?

It can be. Up to 85% of your benefit may be taxable depending on your total income. Your benefits can also affect Medicare premium surcharges, which are based on your income from two years earlier.

Can I collect Social Security on my ex-spouse's record?

Possibly. If your marriage lasted at least 10 years, you are unmarried, and you are at least 62, you may be able to claim benefits based on your former spouse's earnings. It does not reduce their benefit.

Will Social Security run out?

The Trustees' 2026 report projects the combined trust funds can pay full benefits until 2034 and about 83% of scheduled benefits after that if nothing changes. That is a funding shortfall, not an end to the program, and Congress has options to address it.

Related reading. Your 401(k) Rollover Options, 403(b) for Teachers, and Tax Tips for the End of the Year

This article is general education and is not tax, legal, or investment advice. Social Security rules and figures change, and every situation is different. Talk with a qualified professional before making decisions about your benefits.