More Americans Are Claiming Social Security at These 3 Ages: In 2025, more Americans are making a critical decision that will impact the rest of their lives: when to claim Social Security benefits. Data shows that the three most popular ages for claiming benefits are 62, full retirement age (66–67), and 70. But why these ages? And more importantly, should you follow the crowd or carve your own path?
This article provides clear, practical, and expert-backed guidance to help you decide when to claim your Social Security benefits. Whether you’re nearing retirement or planning ahead, understanding your options could mean the difference between financial security and unnecessary struggle.
More Americans Are Claiming Social Security at These 3 Ages
More Americans than ever are claiming Social Security at 62, FRA, and 70—each with compelling reasons. But the right time for you depends on your personal situation, including health, finances, and retirement goals. Making the wrong decision can cost you tens of thousands of dollars over your lifetime. But the good news is, by understanding your options and planning ahead, you can maximize your benefits and enjoy a more secure retirement.
| Claiming Age | Monthly Benefit (2025) | % of Full Retirement Benefit | Who It’s Best For | Key Considerations |
|---|---|---|---|---|
| 62 | Up to $2,831 | ~70% | Those in poor health, unemployed, or needing income immediately | Permanent 25–30% reduction in benefits |
| 66–67 (FRA) | Up to $4,018 | 100% | Those retiring at standard age | Balanced benefits and access |
| 70 | Up to $5,108 | ~124%–132% | Healthy individuals with strong financial support | Maximum benefit but delayed access |
Why More Americans Are Claiming Social Security at These 3 Ages?
1. Age 62 – The Earliest You Can Start
More than 30% of Americans claim benefits at age 62. This early option is attractive because it provides immediate income during a life stage where many face health concerns, layoffs, or caregiving responsibilities.
Benefits:
- Immediate financial relief
- Longer period of total payments
- Flexibility for those exiting the workforce early
Drawbacks:
- Monthly benefits reduced by up to 30%
- May receive less money over your lifetime if you live beyond average life expectancy (about 77.5 years in the U.S.)
Example: If your full retirement benefit is $2,000/month, claiming at 62 would reduce it to about $1,400/month permanently.
2. Full Retirement Age (FRA): Age 66–67
Your Full Retirement Age is when you can claim 100% of your Social Security benefit without reductions. The FRA depends on your birth year:
- Born 1955: 66 years and 2 months
- Born 1960 or later: 67 years
Benefits:
- No benefit reduction
- Flexibility to work without affecting benefits
- Ideal for people who want a balance between early access and higher payouts
Drawbacks:
- Delayed start may mean fewer total payments if you don’t live past your mid-70s
3. Age 70 – The Maximum Payout Strategy
Waiting until 70 yields the highest possible monthly benefit. For each year you delay after FRA, your benefit increases by about 8% per year.
Benefits:
- Maximum monthly income for life
- Better survivor benefits for your spouse
- Ideal for people with longevity in their family or other income sources until 70
Drawbacks:
- Risk of not living long enough to enjoy the benefits
- Requires financial support from savings or work during the delay period
Factors to Consider Before You Decide
Choosing when to claim benefits isn’t just about age—it’s about strategy. Here are five key factors to evaluate:
1. Your Financial Need
If you need money to pay bills or cover healthcare expenses, claiming early might be your only option. However, those with retirement savings or income from other sources may benefit from waiting.
2. Your Health and Family Longevity
If you expect to live into your 80s or 90s based on personal or family health history, delaying your benefits could lead to greater lifetime earnings.
Example: A healthy 65-year-old with a parent who lived into their 90s may do better by waiting until 70 to claim.
3. Your Employment Status
If you claim benefits before your FRA and continue to work, your benefits could be reduced. The Social Security earnings limit in 2025 is $22,320—if you earn above this, your benefit is temporarily reduced by $1 for every $2 earned over the limit.
Once you reach FRA, your benefits are no longer reduced due to earnings.
4. Spousal and Survivor Benefits
Delaying your benefit increases the survivor benefit for your spouse if you pass away. For couples, it’s often wise for the higher earner to delay benefits until 70 to maximize survivor benefits.
5. Inflation and Cost-of-Living Adjustments (COLAs)
Social Security benefits are adjusted annually for inflation. Delaying benefits locks in these increases at a higher base, which can be a significant advantage over decades.
Expert Advice: What Financial Planners Recommend
Most financial advisors recommend the following strategy:
- Claim early (62) only if you’re in poor health or need the income.
- Claim at FRA if you want balanced benefits without reductions.
- Delay until 70 if you’re healthy and can afford to wait—especially if you’re the higher earner in a couple.
According to a 2024 study by the National Bureau of Economic Research, more than 90% of Americans would benefit financially by waiting until age 70, but fewer than 10% actually do.
How to Claim Social Security Benefits?
Here’s a simple step-by-step guide:
- Create an account at my Social Security on the official SSA website.
- Review your earnings history to ensure it’s accurate.
- Estimate your benefits using the SSA’s Retirement Estimator.
- Choose your retirement age based on your strategy.
- Apply online or by phone about three months before you want benefits to begin.
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Frequently Asked Questions (FAQs)
Q: Can I change my mind after claiming?
A: Yes. Within 12 months of starting, you can withdraw your application once and repay the benefits. This lets you delay benefits to increase your future monthly amount.
Q: Are my Social Security benefits taxable?
A: Possibly. If your combined income exceeds $25,000 (individual) or $32,000 (couple), up to 85% of your benefits may be taxed.
Q: Can I work while receiving Social Security?
A: Yes, but if you’re under FRA, your benefits may be reduced if your earnings exceed the annual limit. After FRA, there are no reductions.
Q: What’s the best age to claim Social Security?
A: It depends on your financial needs, health, life expectancy, and employment. There’s no one-size-fits-all answer, but waiting until 70 offers the highest monthly income.
