Wait Until 70 for Maximum Social Security | Huntsville News

Social Security’s early claim trap: grabbing benefits at 62 slashes your monthly payout by up to 30%, and it’s a one-way ticket to lower checks forever. Your full retirement age? It’s no longer fixed—it’s now 67 for those born after 1960, and rising steadily since 1935. The real jackpot? Delaying past your FRA until 70 boosts your benefit by 8% per year—potentially turning you into a millionaire in monthly payouts. Experts agree: 92% would be better off waiting until 65, and even more would see bigger checks by holding out to 70. Claiming early not only hurts your own income but also shrinks survivor benefits and forces you to pay for Medicare out of pocket for three years. Bottom line: patience pays—most retirees are financially better off waiting.

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