What Happens If You Claim Social Security at 62, 67 or 70?

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What Happens If You Claim Social Security at 62, 67 or 70? By: Marc Guberti Marc Guberti Marc Guberti is a personal finance writer who hosts Breakthrough Success, a podcast where he teaches listeners how to grow their businesses and achieve personal transformations. Has also written: Still Unsure About Retirement Savings? Suze Orman’s Playbook for Catching Up Without Panicking The New Money Rules: A Suze Orman-Inspired Guide to Risk, Work and Retirement How Delaying Retirement by Just One Year Can Transform Your Social Security Payouts Your 2026 Social Security Playbook: 5 Moves to Make Before Filing 6 Financial Regrets Retirees Face — and How to Avoid Them See full bio Published: Feb 26, 2026 4 min read Getty Images You can start receiving Social Security benefits at age 62, but that doesn’t mean you should. Your benefits generally increase the longer you defer them, making when you tap Social Security one of the most important financial decisions you’ll make while retirement planning. While immediate cash may relieve some financial stress, inflation and longevity are two significant risks that could justify waiting a little longer. Here’s how your benefits will differ based on when you claim Social Security. Must ReadExperts are Bullish on Gold — Here's How to Get In3 Ways You Can Make Cash on Your CouchThese Are the Best High-Yield Savings Accounts Right Now What happens if you take out Social Security at 62? If you claim Social Security at age 62 in 2026, the maximum monthly benefit you can receive is $2,969, according to the Social Security Administration. That's roughly 30% lower than what your benefit would be if you waited until age 67.

Explore Remedy Meds: Medically supervised GLP-1 weight loss with unlimited clinician access What happens if you take out Social Security at 67? Full retirement age is 67 for anyone born in 1960 or later. If you claim Social Security at full retirement age in 2026, the maximum benefit you can receive will be $4,152 per month. The extra money that you’d get in waiting for full retirement age can go a long way in preserving your lifestyle and providing a better financial cushion. Need Cash? Check out Credible's personal loan options What happens if you take out Social Security at 70? If you wait until age 70, you’ll receive the highest benefit: a maximum of $5,181 per month in 2026.

Delaying Social Security until 70 can be good for your finances, but it may also require working a few extra years or getting a part-time job to make ends meet, depending on your financial situation. Looking for a long-lost friend or family member? Check out BeenVerified and start researching How to determine when you should claim Social Security The age at which you should claim Social Security comes down to your specific financial situation, including how much you’ve saved for retirement, your other forms of income, your spouse’s Social Security benefits and more. Often, it makes sense to put off claiming Social Security so you can get the largest possible benefit. Some retirees opt to tap into the savings they’ve built up in their 401(k)s, individual retirement accounts (IRAs) and other investment accounts so they can wait to receive their benefits. This is called the bridge strategy. Another approach is to strategize with your spouse so that the higher earner waits longer to collect their benefits, securing a higher benefit. The lower-earning spouse can receive their benefits in the meantime. Another option is to keep working so that you can delay your benefits and potentially replace any lower-earnings years that the Social Security Administration uses to assess how large your benefit will be with higher-earning ones. Higher lifetime earnings generally mean higher benefits.

The Social Security Administration offers plenty of calculators and tools to help you determine how much you will receive. You can log into your “My Social Security” account or create one if you haven’t already to see estimates. You can also review your earnings history to ensure the Social Security Administration has all the correct information. Must ReadExperts are Bullish on Gold — Here's How to Get In3 Ways You Can Make Cash on Your CouchThese Are the Best High-Yield Savings Accounts Right Now