Deciding when to claim Social Security in 2026 is crucial for maximizing your retirement income. Data shows that waiting until age 70 is the best choice for most people, as it can lead to significant lifetime benefits. Claiming earlier can result in missing out on thousands of dollars in benefits.

Your age directly impacts the money you receive from Social Security, both monthly and throughout retirement. Studies show that waiting until age 70 can result in more lifetime wealth compared to claiming earlier. Waiting can lead to substantial gains in lifetime discretionary spending for retirees.

While eligibility for Social Security begins at age 62, waiting until age 70 is the optimal choice for the majority of retirees. Studies indicate that delaying benefits can lead to increased lifetime wealth, with potential gains exceeding 26% for some individuals. Claiming at 70 can result in maximizing Social Security benefits.

For most Americans, delaying Social Security benefits as long as possible is crucial for securing financial security in retirement. While there are exceptions, such as claiming spousal benefits or facing declining retirement savings, waiting to claim benefits is generally the best route to ensure a stable income in your senior years.

Understanding the impact of your claiming age on your retirement income is essential for making informed decisions about your Social Security benefits. Waiting until age 70 can lead to significant lifetime wealth, while claiming earlier may result in missed opportunities for maximizing your financial security in retirement.

Read more at Yahoo Finance: Are You Ready to Claim Social Security in 2026? Here’s What the Data Says