Retirement Social Security

Here's What Happens to Your Social Security Check if You Wait to Claim Until 70

Here's why waiting until 70 to claim Social Security benefits might be a smart move for your retirement.

By Chris Lewis, CEPF , Edited by Laura Hohenstein

Updated July 7, 2026

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When it comes to planning for retirement, one of the most crucial decisions you will make is when to start collecting Social Security benefits.

While it can be tempting to tap into those funds as soon as you are eligible, delaying benefits until age 70 can significantly boost your monthly income. Although waiting might be tough, especially if you are eager to retire, it can truly pay off in the long run.

Before you make any decisions, here are some key points to consider if you are thinking about delaying Social Security benefits until age 70.

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Your monthly benefit will grow if you wait

One of the biggest advantages of delaying Social Security benefits until age 70 is the significant increase in your monthly payout.

For every year you delay past your full retirement age, 67 for most folks, your benefit increases by approximately 8% until you hit 70.

This increase can make a substantial difference in your retirement income, helping to eliminate some money stress.

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Bigger benefits can really pay off if you live a long time

Waiting until 70 to claim Social Security can be particularly beneficial if you anticipate living a long life. The longer you live, the more you will appreciate those larger monthly checks.

For those with longevity in their families, this strategy can help ensure you have a steady income well into your later years.

Waiting past the age of 70 offers no extra benefit

While delaying Social Security benefits until age 70 can be a smart financial move, there's no additional benefit to waiting past the age of 70.

Once you reach 70, your benefit amount stops increasing. So, it's in your best interest to start claiming at that point. Delaying beyond 70 won't earn you any extra credits, so be sure to include this deadline in your retirement plan.

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Doing the math can help you decide whether to delay

Before deciding to delay Social Security benefits, take a close look at where you stand financially.

Can you afford to wait without significantly impacting your lifestyle? Will you need to draw more from your retirement savings to make up for the delayed income?

Checking up on your financial health and ensuring you have enough resources to cover your needs in the interim is crucial. This step will help you avoid making mistakes that could disrupt your retirement plans.

Waiting until 70 might force you to tap deeper into retirement savings

Delaying Social Security means you might need to rely more heavily on your retirement savings for a few extra years. If you plan to delay benefits, be prepared to dip into your 401(k), IRA, or other savings to cover expenses.

This strategy can work well if you have saved adequately. But if you have not, it could lead to a quicker depletion of your funds.

Working longer can boost your benefits

If you keep working until 70 and beyond, you can continue to boost your Social Security benefits. Not only will you delay taking your benefits, but you'll also contribute to Social Security for more years, which could increase your benefit amount.

Your Social Security benefits are based on your highest 35 years of earnings. If your highest-earning years are after you have already started collecting your benefits, the Social Security Administration (SSA) will automatically readjust the benefits to reflect the higher monthly amount to which you are entitled.

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Waiting until 70 to enroll in Medicare could be costly

While waiting to claim Social Security until 70 can be beneficial, don't delay enrolling in Medicare. You should sign up for Medicare when you turn 65 to take advantage of medical benefits, even if you delay Social Security benefits.

If you don't enroll for Medicare on time, you might have to pay a penalty for the rest of your life.

There can be drawbacks to waiting until 70

While there are many positives to delaying Social Security, it's also important to consider potential drawbacks.

For example, if you have health concerns or don't expect to live a long life, waiting until 70 might not be the best choice. If you die before the age of 70, you might never get the chance to collect benefits at all.

Additionally, the need to draw more heavily on your savings while you wait to file could strain your finances. Make sure to weigh all the pros and cons in the context of your retirement goals.

Bottom line

Deciding to delay Social Security benefits until 70 is a personal choice that can offer a significant financial boost if done right.

As you plan for retirement, consider how this strategy fits into your overall plan and whether you will find other ways to supplement your Social Security income.

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