Social Security claiming strategy: Take early at 62 or wait until 65 while spouse delays to 70?

This is a classic optimization question that depends on multiple factors. Based on your numbers, waiting until 65 would give you approximately $510 more per month, which is significant. That's $6,120 more annually, and that difference continues for life (plus annual COLAs). The break-even analysis is key here. You'd "lose" 36 months of payments by waiting (roughly $63,000 total), but after about 10.3 years of receiving the higher payment ($510 × 12 months × 10.3 years), you'd come out ahead if you live beyond about age 75-76. But also consider: 1) Your health/family longevity 2) Whether you're still working (earnings limit comes into play if claiming before FRA) 3) Tax implications of SS income combined with other income 4) Whether your spouse might need to claim survivor benefits on your record later

my husband took his at 62 and i waited till fra (66 at that time) and it worked fine for us. but everyones situaton is diffrent. do u have pension to? that changes things.

I would strongly consider waiting until at least 65 if you can afford it. The significant reduction for claiming at 62 is permanent and compounds over time with COLA increases. There's also the earnings test issue - if you're working and making over the annual limit ($21,240 in 2025), SSA will withhold $1 for every $2 you earn above that limit until you reach FRA. One important consideration: if your wife's own benefit will be higher than any spousal benefit she could get on your record, your filing age doesn't affect her benefit amount. But if you pass away before her, she would receive survivor benefits based on your benefit amount - including any delayed retirement credits you earned. So waiting helps protect her future income too. The age 65 vs 62 decision depends on: 1) Life expectancy (longer favors waiting) 2) Current income needs 3) Whether you're still working 4) Tax situation 5) Health insurance needs (Medicare starts at 65

I did the same thing you're planning! Took mine at 62 and spouse waited. BIG MISTAKE. The reduction is HUGE and PERMANENT. Plus I was still working part-time and they took back almost half my benefit because of the earnings limit. Should have waited!!!

Have u tried calling SSA directly? i spent 2 weeks trying, but kept getting disconnected after waiting forever. SO frustrating!!! Then someone told me about this service called Claimyr that gets you through to SSA quickly. I was skeptical but it actually worked! Got connected in under 10 minutes when I'd been trying for weeks. The rep did a personalized calculation for our specific situation that really helped us decide. Check out their video demo: https://youtu.be/Z-BRbJw3puU or just go to claimyr.com The SSA person did a "what-if" calculation for different ages that showed the cumulative lifetime benefit. Made our decision much clearer! Worth talking to them directly.

Am I the only one who thinks it's ridiculous that we need advanced mathematics degrees to figure out when to take our own benefits? The whole system is deliberately complicated. At 62 you get your money sooner but less of it. At 70 you might be DEAD before collecting a dime. No perfect answer.

Something important that hasn't been mentioned: if you're still working while collecting before FRA, you're subject to the earnings test. For 2025, if you earn over $21,240, SSA withholds $1 in benefits for every $2 earned above that limit. If you're planning to work until 65 anyway, this could be a strong argument for waiting, since you might see significant benefit reductions if claiming at 62 while working. Also consider that your wife's spousal benefit (if applicable) would be based on your PIA (Primary Insurance Amount), not your reduced benefit. However, survivor benefits ARE affected by when you claim, so waiting would provide her with higher survivor benefits if she outlives you. Lastly, regarding your specific benefit amounts: The increase from $1,750 to $2,260 represents approximately a 29% increase for waiting those 3 years, which is significant. It affects not just your lifetime income but potentially your wife's as well.

but what about medicare??? doesnt it start at 65? does that effect when u should file for ss?

Thank you everyone for all this helpful information! I think I've decided to wait until at least 65 to claim benefits, for several reasons: 1. The earnings test would reduce my benefits significantly if I claim at 62 while still working part-time 2. The 29% higher monthly amount ($510 more per month) will add up substantially over time 3. The survivor benefit consideration for my wife is important - I want to make sure she's well taken care of 4. My family history suggests longevity, so the break-even point of 75-76 likely makes waiting worthwhile I'm going to try to speak with SSA directly to get personalized calculations before making the final decision. Thanks again for all your insights!