When to Start Social Security: Age 62, Full Retirement Age or 70?

You can start Social Security retirement benefits as early as 62 or as late as 70. The age you pick changes the size of your monthly check for the rest of your life, so it is worth understanding the trade-off before you apply.

Know Your Full Retirement Age

Your full retirement age is the age when you get your full, unreduced benefit. It depends on the year you were born. According to Social Security:

Born 1943 to 1954: 66
Born 1955 to 1959: 66 plus 2 to 10 months, depending on the year
Born 1960 or later: 67

Starting Early, at 62

If you start before full retirement age, your monthly benefit is reduced for good. For someone whose full retirement age is 67, Social Security says starting at 62 cuts the benefit by about 30%. In Social Security’s own example, a $1,000 benefit at full retirement age becomes about $700 at 62.

Starting early can also lower a spouse’s benefit if they start early too. Our guide to spousal benefits below explains how that works.

Waiting Past Full Retirement Age

If you wait past your full retirement age, your benefit grows. Social Security says that for people born in 1943 or later, it goes up by 8% for each full year you wait, until age 70. After 70, there is no extra increase, so there is no reason to wait longer.

One important note from Social Security: even if you delay benefits, sign up for Medicare around age 65. Waiting on Medicare can delay coverage and cost more.

Questions to Think Through

There is no single right age. These questions can help you weigh it:

Do you need the income now, or can savings or a pension cover you for a while?
How is your health, and how long have people in your family tended to live?
Are you married? If you are the higher earner, waiting can mean a larger survivor benefit for your spouse.
Are you still working? Earnings can affect benefits you take before full retirement age.

If you plan to keep working, our sister site explains the limits in Social Security’s 2027 Earnings Limits.

Steps Before You Apply

Sign in to your my Social Security account at ssa.gov and check your earnings record for mistakes.
Look at your estimated benefit at 62, at full retirement age, and at 70.
Talk it over with your spouse, if you have one.
If you have questions, call Social Security or speak with a fee-only financial planner you choose yourself.

Be wary of anyone who charges a fee to “help” you apply or calls asking for your Social Security number. Contact Social Security directly instead.