When should I claim Social Security at 63 - invest it now or wait until FRA for higher benefit?

Have you considered the spousal benefit angle? Since your husband is already collecting, you might be eligible for a spousal benefit based on his record if it's higher than your own benefit. You should check if 50% of his PIA would be more than your reduced benefit at 63. If it is, that could change your calculation completely.

take it now and invest it!!!!! i did this 2 years ago (took SS at 62) and have put almost $40K in my investments already that i wouldn't have had otherwise. money now is better than promises later imho

This is a common question with no one-size-fits-all answer. The mathematically optimal choice depends on several factors: 1. Your life expectancy (family history suggests longer life which favors waiting) 2. The exact investment returns you expect to achieve on the invested benefits 3. Whether you need the income now or can afford to wait 4. Tax implications - remember that investment income could push you into a higher tax bracket If you invest your early SS benefits in a tax-advantaged account and achieve 7%+ returns, the break-even point is pushed out much further, potentially beyond realistic life expectancy. However, if you achieve more modest returns of 4-5%, waiting until FRA might be better in the long run. Have you calculated the specific crossover point assuming different investment return scenarios?

I just want to bring up something NO ONE ever talks about with these SS questions. What about your QUALITY OF LIFE NOW??? Maybe having that extra money to invest today lets you sleep better at night? That has VALUE too! Not everything is about maximizing dollars 30 years from now when you might not even be here to enjoy it!!! Sorry for shouting but this drives me CRAZY when people only look at the math.

Looking at your situation more holistically, there are a few other factors to consider: 1. Since your husband is already collecting and working full-time, be aware of potential tax implications. Up to 85% of your combined Social Security benefits may be taxable depending on your joint income. 2. If you're still working, claiming before FRA means you're subject to the earnings test. In 2025, you'll lose $1 in benefits for every $2 you earn above $23,500 (approximate - the 2025 limit hasn't been officially announced yet). 3. Contributing to retirement accounts is great, but remember that IRA contribution limits for 2025 are $7,500 plus a $1,000 catch-up for those over 50. So you'd be limited in how much of your SS benefit you could actually put into tax-advantaged accounts. Considering all factors, many financial planners suggest that the higher-earning spouse delay benefits as long as possible (up to 70), while the lower-earning spouse might claim earlier. This strategy often optimizes lifetime household benefits, especially important for survivor benefits later.

I had a similar decision last year. tried calling SSA like 20 times to discuss options but couldn't get through (busy signals or disconnected after waiting forever). got so frustrated!!! ended up using a service called claimyr.com that got me connected to an SSA agent in 20 minutes. they have a video showing how it works at https://youtu.be/Z-BRbJw3puU if you're interested. the agent i spoke with ran different scenarios for me which was super helpful for making my decision.

btw uve got TRIPLETS?? omg thats crazy, my cousin has twins and can barely manage. how did u handle triplets AND work?? super mom alert!!

Has anyone mentioned the COLA adjustments? If you wait until FRA you get 4 more years of COLA increases built into your base benefit. With inflation these days that's not nothing!

Another perspective: Once you file for your own retirement benefit, you're generally locked into that choice (minus the one-time do-over option within 12 months if you repay all benefits). Have you considered taking just a portion of your retirement accounts now to bridge the gap until FRA? This would preserve your Social Security benefit amount while still giving you some additional money to work with.