The Age That Gets You the Biggest Social Security Check, According to Data

Most Americans start collecting Social Security benefits in their early 60s, eager to enjoy the reward they've worked so long to earn. But studies show that rushing the process can cost you thousands over time. Those who wait until 70, when benefits hit their peak, tend to collect much larger checks.

In the next sections, you'll see how your claiming age changes your benefit, what research says about the best time to file, and why a little patience could help you retire comfortably.

Why the age you file for Social Security can make such a big difference

You can start collecting Social Security as early as 62, but that early money can carry a serious price tag. If your full retirement age (FRA) is 67, claiming at 62 locks in about 70% of your benefit.

In contrast, each year you wait past your FRA adds roughly 8% through delayed retirement credits. Hold out until 70, the latest possible claiming age, and your benefit can climb to about 124% if your FRA is 67. For those with an FRA of 66, waiting till 70 can boost payments to 132% of the full benefit.

In other words, delaying from 62 all the way to 70 can result in a dramatically larger check, on the order of a 77% increase in monthly benefits for a typical new retiree born 1960 or later.

There's another advantage to patience. Since Social Security adjusts benefits each year for inflation, a larger starting payment means every cost-of-living increase builds on a higher base.

And because those checks last as long as you do, stretching your start date can make a big difference later in life, especially when your other income streams start to slow.

What the data shows about waiting for a bigger check

Research from the National Bureau of Economic Research (NBER), a nonprofit organization that conducts and shares nonpartisan economic research for policymakers, businesses, and academics, shows that more than 90% of American workers aged 45 to 62 would earn more lifetime income by claiming Social Security at 70 instead of earlier. Yet, about 10% of retirees actually wait that long.

The NBER team calculated that the median household in their analysis would increase their lifetime discretionary spending by about 10% if they made the optimal Social Security claiming decision. In dollar terms, that equates to a median gain of roughly $182,000 in present-value lifetime benefits for the typical household.

Put simply, the median near-retiree stands to gain well into six figures over their retirement by choosing the financially best age to file.

A separate study from United Income, a financial technology firm that analyzes retirement and investment behavior using real-world data, paints a similar picture. It found that 96% of retirees claimed too soon, collectively missing out on $3.4 trillion in potential income. On average, that's around $111,000 in lost benefits per retired household.

Together, these studies show that timing matters far more than most people realize. By holding off, you give your benefits time to grow, and since Social Security adjusts payments for inflation, those bigger checks can make an even larger difference as you move through your 80s and 90s.

Delaying often pays off, though your situation is unique

Delaying until 70 usually brings the biggest monthly benefit and more peace of mind later, but it only makes sense if you can afford to wait and expect to live long enough to enjoy it.

For many people, that's a tough call. Claiming early puts money in your hands right now, and sometimes that's exactly what you need. Waiting builds a bigger benefit for later, but it asks you to give up income in the short term. It's a personal trade-off only you can weigh.

If you decide to wait, the question becomes how to cover the gap between now and when those larger checks start coming in. That's where your "bridge" strategy matters.

Many people fill the gap by working a few extra years or taking on part-time projects that keep both income and purpose flowing. Others lean on their savings, drawing from retirement accounts or investment income in their 60s, then switching to Social Security later.

Both approaches can work. It really depends on what feels most sustainable for you. If you still enjoy your work and can keep earning, those extra paychecks can carry you comfortably until your benefit kicks in.

If you'd rather step back from work, using some of your savings early can make sense, especially if it means locking in higher, inflation-adjusted income for life at 70.

Bottom line

In the end, remember that Social Security is designed as a lifetime benefit. Maximizing that lifelong, guaranteed income, especially for those who rely on it heavily, is often key to a comfortable retirement. For many Americans, that means waiting as long as possible, ideally to age 70, to start those checks. But "most" doesn't mean "all."

The smartest choice is the one that fits your health, your savings, and your sense of peace. When you balance what the data shows with your own circumstances, you can make the right moves for your retirement, setting yourself up for a future that feels stable and comfortable.