The decision of when to claim Social Security benefits can significantly impact retirees’ financial health. While individuals can begin receiving benefits as early as age 62, doing so may lead to diminished monthly payments. For many married couples, waiting to claim Social Security can be a financially sound strategy.
When one delays claiming, they may substantially increase their benefits. As of 2026, the maximum monthly benefit for someone claiming at age 62 is $2,969, but this increases to $4,152 at full retirement age (66 or 67) and reaches $5,181 if claimed at age 70. For couples, this can mean a considerable difference in household income. If both spouses claim at 62, their combined benefit totals $5,938 per month. Waiting until full retirement age elevates that to $8,304, while delaying until age 70 can yield a combined monthly income of $10,362.
However, timing might vary based on personal circumstances. Some couples adopt a “split strategy,” where the lower-earning spouse claims early, allowing the higher earner to maximize their benefits later. Others may face pressing financial needs due to health issues, layoffs, or insufficient savings, making early claims necessary.
It is advisable for couples to register on the Social Security website to assess their personalized benefit estimates based on different claiming ages, facilitating informed decisions tailored to their unique financial situations.
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