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Waiting to 70 Maximizes Social Security; Early Claimers Lose $182K

7/19/2026

44 10 Full Breakdown

Summary

Story summary

Economists say waiting until age 70 yields the highest lifetime Social Security benefit.
Claiming at 62 cuts benefits by 30% and costs early claimers about $182,370 on average.
More than 90% of workers claim before 70, with one-in-five starting at 62.
Social Security spends $1.5 trillion annually and may face a 2032 shortfall that could cut checks by 28%.

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Story summary

Economists say waiting until age 70 yields the highest lifetime Social Security benefit.
Claiming at 62 cuts benefits by 30% and costs early claimers about $182,370 on average.
More than 90% of workers claim before 70, with one-in-five starting at 62.
Social Security spends $1.5 trillion annually and may face a 2032 shortfall that could cut checks by 28%.