Should You Claim Social Security at 62 or 70? A Study Offers a Clear Answer About the Best Age to Start Benefits.
The Motley Fool
by newsfeedback@fool.com (Trevor Jennewine)February 15, 2026
AI-Generated Deep Dive Summary
The decision to claim Social Security at age 62 or delay until 70 can have a significant impact on lifetime benefits. A recent study highlights that delaying benefits until age 70 could increase a worker's lifetime spending power by $182,000 compared to claiming early at age 62. This substantial difference underscores the importance of understanding how Social Security benefits are calculated and maximized.
Many Americans are unaware that claiming before full retirement age (FRA) results in reduced benefits due to the "permanent reduction" formula. Conversely, delaying claims after FRA leads to a "permanent increase," enhancing each payment's size. This means waiting until 70 can yield larger, more lucrative checks compared to starting at 62 with smaller, yet more frequent payments.
The National Bureau of Economic Research (
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Originally published on The Motley Fool on 2/15/2026