Social Security: Comparing Ages 62, 67 and 70

Choosing when to claim Social Security should be part of your retirement income plan. The right timing depends on how you will cover expenses, your health and your household’s needs.

Three Ages to Compare

62: Generally the earliest age for your own retirement benefit. Claiming before full retirement age reduces the monthly amount.
67: Full retirement age for people born in 1960 or later. Your birth year determines your full retirement age.
70: Delaying your own retirement benefit after full retirement age increases the monthly amount up to age 70. Waiting beyond 70 does not add delayed retirement credits.

See the Social Security Administration’s claiming-age guidance and benefit reduction and delay information.

Look Beyond the Monthly Check

A larger monthly benefit may require using more of your savings while you wait. An earlier benefit can provide income sooner, but leaves a smaller monthly payment. Compare both choices within a plan that considers longevity, other income sources, taxes and investment risk.

For couples, evaluate each person’s benefit and the potential income available to the surviving spouse. Spousal and survivor benefits have different rules from your own retirement benefit; do not assume that all benefits grow by waiting until 70.

A Practical Starting Point

Review your personal benefit estimates in your my Social Security account.
List the expenses that must be covered and the income available at each claiming age.
Compare early claiming, full retirement age and delayed claiming using the same assumptions.
Review household and tax considerations before you apply.

If you plan to work while receiving benefits before full retirement age, check the current earnings rules with SSA.

Bring the Decision Into Your Plan

There is no single claiming age that fits every household. A planning conversation can help identify the questions and tradeoffs that matter in your situation.

Schedule a Conversation or call (219) 400-0485.

Educational information only, as of October 2026. This is not individualized investment, tax or legal advice. Consult SSA for eligibility and benefit details and your qualified tax professional for tax advice. Investing involves risk, including possible loss of principal.