For every month you delay beyond your FRA up to age 70, your benefit grows by approximately two-thirds of one percent adding up to 8% per year. Someone who delays from 67 to 70 receives a benefit 24% higher every month for the rest of their life, and that larger base also means larger cost-of-living adjustments each year. For married couples, the advantages compound further: when the higher-earning spouse delays, they also increase the potential survivor benefit, since a surviving spouse inherits the larger of the two benefits. Delaying also provides a hedge against longevity the risk of outliving your savings. While not the right choice for everyone, delaying Social Security is often the best strategy for healthy individuals who have other income to draw from in their early 60s. Moore Invested helps clients evaluate whether delaying makes sense within their broader retirement plan.

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What Are Social Security Benefits?

Social Security benefits are monthly federal payments that replace part of your pre-retirement income—usually alongside savings and workplace accounts, not as your only retirement source.

How Is Social Security Calculated?

Your benefit is based on your 35 highest-earning years, adjusted for inflation, then run through a progressive formula that produces your Primary Insurance Amount at Full Retirement Age.

Social Security at 62, 67, and 70: What’s the Difference?

You can claim as early as 62, at Full Retirement Age (67 for most workers today), or as late as 70—and the age you choose permanently shapes your monthly payment.

Social Security at 62 vs. 70: Which Is Better?

Claiming at 62 brings income sooner; waiting until 70 can lock in a benefit up to 77% higher—with break-even often around age 80 to 82.

When Should I Take Social Security?

The best claiming age depends on your health, work status, other income, spousal benefits, and taxes—not a one-size-fits-all rule.

What Is the Social Security Earnings Limit?

If you claim before Full Retirement Age and keep working, the earnings test can temporarily reduce benefits until you reach FRA.

Will Social Security Run Out in 20 Years?

Trust fund depletion would not end Social Security—ongoing payroll taxes would still fund most benefits, but planning should not rely on benefits alone.

How Do I Find Out My Social Security Benefit Amount?

Create a free my Social Security account at SSA.gov to view earnings history and personalized estimates at ages 62, Full Retirement Age, and 70.

What Is a Social Security Strategy?

A Social Security strategy is a deliberate plan for when and how to claim so you maximize lifetime income—not just filing at the earliest eligible age.

How Does Retiring Early Affect Social Security?

Stopping work before 62 can lower your benefit by adding zero-earnings years and skipping high-earning years that could replace lower ones in your 35-year average.

Social Security and IRA Withdrawals

Traditional IRA withdrawals count toward combined income and can trigger federal tax on up to 85% of your Social Security benefits.

Benefits of Delaying Social Security

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