Is This the Perfect Age to Start Collecting Social Security?

The Motley Fool

by newsfeedback@fool.com (Maurie Backman)

February 26, 2026

AI-Generated Deep Dive Summary

Deciding when to start collecting Social Security is one of the most important financial decisions you’ll make in retirement planning. While there’s no single “perfect” age, understanding how your choices impact your benefits can help you make a more informed decision. Your Social Security benefit amount is based on your earnings history, but it also depends on when you decide to file. Waiting until later than your full retirement age (currently between 65 and 67, depending on the year you were born) can increase your monthly payments due to delayed retirement credits. However, claiming benefits too early—before your full retirement age—can reduce your payments permanently. The article emphasizes that there’s no one-size-fits-all answer. The best time for you to start collecting Social Security depends on a variety of factors, including your health, family history of longevity, financial needs, and whether you plan to continue working or need immediate income. For some people, starting benefits early may make sense if they’re in poor health or have limited savings. On the other hand, delaying could be beneficial for those who can afford to wait, as it increases their lifetime payout. This decision matters because it directly impacts your financial stability in retirement. Claiming too soon can result in smaller monthly checks that might not last as long, while waiting may provide a larger benefit that supports you throughout retirement. For many, the goal is to balance immediate needs with long-term sustainability. Consulting with a financial advisor or using Social Security’s online tools can help you estimate your benefits and make a more confident choice. Ultimately, there isn’t a one-size-fits-all answer, but taking time to evaluate your personal circumstances and goals can lead to a well-informed decision that aligns with your retirement plans. Whether you’re considering early claiming or delaying benefits, understanding how each option affects your financial future is key to making the best choice for your individual situation.

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Originally published on The Motley Fool on 2/26/2026