When to Claim Social Security in 2026: 62 vs 67 vs 70 — The $182,000 Decision Most Retirees Get Wrong

# When to Claim Social Security in 2026: 62 vs 67 vs 70 — The $182,000 Decision Most Retirees Get Wrong

> **Quick answer:** For anyone born in 1960 or later, full retirement age (FRA) is 67. Claiming at 62 cuts your monthly benefit by 30% — from roughly $1,927 to $1,349. Waiting until 70 boosts it by 24% — to roughly $2,390. A landmark 2022 National Bureau of Economic Research study found the median retiree surrenders $182,000 in lifetime spending power by claiming too early. The break-even age where waiting pays off: approximately 80–82.

*This article is for informational purposes only and does not constitute financial advice. Consult a qualified financial advisor for personal financial decisions.*

The single most consequential retirement decision most Americans will make is not which stocks to buy or how much to contribute to their 401(k). It is a three-word question: when to claim. In 2026, with 67 million Americans receiving Social Security and millions more approaching eligibility, understanding when to claim Social Security — at 62, 67, or 70 — could mean the difference between a comfortable retirement and a financially strained one.

The numbers are stark. Research published by the National Bureau of Economic Research in 2022 found that more than 90% of workers aged 45–62 would gain financially by delaying benefits to age 70. Yet most people still claim before their full retirement age, leaving an average of $182,000 on the table across their retirement lifetime.

## The Three Numbers That Define Your Social Security Benefit in 2026