Retirement Social Security

Waiting Too Long to Claim Social Security Could Have One Big Consequence

There's upside to delaying your Social Security claim, but only to a certain point.

By Maurie Backman , Edited by Laura Hohenstein

Updated Sept. 17, 2026

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Many seniors' retirement plans hinge on collecting Social Security. And for those without savings or other income, delaying Social Security past full retirement age (FRA) has a huge benefit.

FRA is when you can claim your Social Security without a reduction based on your personal work and earnings history, and it's age 67 if you were born in 1960 or later. But if you delay your claim past FRA, your Social Security benefits grow 8% for every year you wait, up until age 70.

But while sitting tight until you turn 70 to claim Social Security makes financial sense in some situations, waiting beyond age 70 to file for benefits could cause you to lose out on money.

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Think of 70 as the latest age to sign up

The Social Security Administration will not force you to file for benefits once you turn 70. There's no obligation to collect Social Security if you're eligible, and payments do not start automatically. Rather, you have to file.

But there's no financial benefit to delaying Social Security past age 70. The delayed retirement credits you get for waiting past FRA run out on your 70th birthday. If your FRA is 67, the maximum boost to your monthly benefits you can get is 24%.

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A late claim could leave you with less Social Security

If you don't file for Social Security at 70, your monthly benefits will not continue to grow. And at a certain point, you risk giving up benefits you could've had.

The SSA will pay up to six months of Social Security benefits on a retroactive basis. So let's say you don't file for Social Security at 70, but you sign up six months later. In that case, you should get six months of benefits as a lump sum and not lose any money.

But let's say you don't get around to filing for Social Security until you turn 71. In that case, you generally can't get more than six months of retroactive benefits, which means you'd also be giving up six months of those monthly checks.

People claiming spousal benefits should not delay Social Security past FRA

Another thing to realize is that the delayed retirement credits that are available for delaying a claim past FRA only apply to Social Security benefits you're claiming on your own earnings record. If you're filing for spousal benefits from Social Security, delayed retirement credits do not apply.

The maximum amount you can collect in spousal benefits is 50% of your spouse's FRA benefit. So if your spouse is eligible for $2,000 a month, your maximum spousal benefit is $1,000 a month, which you're entitled to at your FRA. However, waiting past that point to sign up won't increase your checks, so there's no sense in waiting.

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When it pays to claim Social Security at 70

While delaying Social Security past age 70 doesn't make financial sense, holding off until 70 could be a smart choice. If you don't have a lot of retirement savings and need Social Security to cover all of your living costs, then waiting as long as possible to claim benefits could pay. Your FRA benefit may not be enough to manage your expenses, but a benefit that's 24% higher might.

It could also make sense to claim Social Security at 70 if you have great health and a family history of longevity. If you're likely to live enough years to make up for the benefits you're giving up by not filing sooner, you could come away with a larger lifetime Social Security paycheck.

Finally, even if your health isn't in the best shape, if you're the higher earner in your household and your spouse lives longer than you do, they'll generally be entitled to survivor benefits from Social Security. Survivor benefits will be the equivalent of the monthly check you locked in. So if you delay your claim until 70, you can leave your spouse with more financial stability once you're no longer around.

Bottom line

Social Security is one of the most important benefits for seniors today. But it's important to claim those benefits at the right time. And that doesn't always mean filing for Social Security as late as possible.

You might think that filing for benefits at age 70 makes the most sense financially. But if you don't live long enough to make up for months or years of missing benefits, then you won't come out a winner. And if you delay a spousal benefit claim past FRA, your monthly payments won't increase at all.

For these reasons, it's important to think carefully about your Social Security strategy, and to consider consulting with a financial planner for guidance on when to file. They can look at your personal financial situation, ask the right questions, and review the rules and nuances of claiming with you so you're more likely to end up making a wise choice.

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