Will my Social Security benefit amount decrease if I'm not working until claiming at 62?

Social Security uses your highest 35 years of earnings to calculate your benefit amount. If you don't have 35 years of work, they'll use zeros for the missing years. Since you're not working from age 56 to 62, you'll have 6 more years of zeros in your calculation. Whether this significantly affects your benefit depends on your prior earnings history. If you already had 35+ strong earning years, the impact may be minimal. If not, it could reduce your benefit somewhat from that $1,740 estimate.

My situation was similar. Stopped working at 57 and claimed at 62. My actual benefit ended up being about $200 less than what my statement showed from a few years earlier. Every situation is different though.

You can get an updated estimate that accounts for your work stoppage by creating a my Social Security account online at ssa.gov if you haven't already. Once logged in, you can use the calculator tools to see updated projections based on different earnings scenarios. You can enter zero for future years and it will recalculate your benefit estimate with the zeros factored in. The statement estimate assumes you'll continue earning at roughly the same level until retirement, so when that doesn't happen, an updated calculation is needed. Your actual benefit will depend on whether those zeros replace higher-earning years in your top 35.

The SSA is TERRIBLE at keeping their estimates updated!! I got a nasty surprise when I filed and my benefit was almost $300 less than what they had been telling me for YEARS!!! They should be required to give better estimates that account for people who stop working early. The whole system is designed for people who work till full retirement age and penalizes those of us who can't!!!

have u considered working part time? even small earnings would help ur calc more than zeros. also did u check if ur qualify for spousal benefits on ur husbands record might be higher

You're entitled to either your own benefit or up to 50% of your husband's full retirement age benefit (if you claim at your full retirement age), whichever is higher. Since your husband is planning to wait until his FRA, and your own benefit at 62 is relatively substantial ($1,740 before any reduction for the additional zero years), it's worth checking both scenarios. To accurately estimate your benefit with the additional non-working years, I recommend using the Detailed Calculator available on the SSA website. It's more comprehensive than the quick calculator in your my Social Security account. You'll need to input your earnings history, which you can download from your account, and then enter zeros for the future years until your claiming age.

I spent THREE DAYS trying to get through to someone at Social Security about this exact same question last year and kept getting disconnected or had to hang up after waiting forever!

Just wanted to add that it's usually better to wait until your full retirement age (67 for you probably?) if you can afford to. Your benefit increases a lot if you wait.

One other thing to consider is that if you claim at 62, you'll be subject to the earnings test if you decide to return to work before your full retirement age. In 2025, you can only earn about $22,320 before they start withholding $1 in benefits for every $2 you earn above that limit. Just something to keep in mind if there's any chance you might work part-time in the future.