Social Security in 2026: When to Claim and How Much You Will Get

When you claim Social Security can mean a difference of hundreds of thousands of dollars over your lifetime. The decision is more important than most people realize.

The Age Factor

Claim at 62: Earliest possible. Benefits reduced by 30% permanently. Average monthly: ~$1,300.

Claim at 67: Full retirement age for most. You get 100% of your benefit. Average monthly: ~$1,900.

Claim at 70: Maximum benefit. 24% higher than full retirement age. Average monthly: ~$2,350.

The Break-Even Math

Waiting from 62 to 70 means giving up 8 years of payments. But the higher monthly amount catches up around age 80. If you live past 80 — and most Americans do — waiting pays off significantly.

2026 COLA Increase

The 2026 cost-of-living adjustment gives recipients a boost to keep pace with inflation. Check your updated benefit amount at ssa.gov.

The Bottom Line

If you can afford to wait, every year you delay past 62 increases your benefit by approximately 8%. That is a guaranteed return no investment can match.

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