How much do delayed retirement credits add if I wait past full retirement age?

For anyone with a full retirement age of 67, waiting adds delayed retirement credits of 8% per year — two-thirds of 1% each month — up to age 70. So claiming at 70 instead of 67 raises your benefit by about 24%, and that increase is permanent and inflation-adjusted afterward. There is no reason to wait beyond 70, since credits stop accruing then. Delaying is essentially buying a larger, government-backed, COLA-protected annuity at a very attractive implied rate, especially valuable for the higher earner in a couple because it also raises the survivor benefit. The catch is you must bridge the gap years with other savings. If you have decent health and assets to live on, delaying is often the single highest-return move available. Compare break-even ages at wealthserene.com/tools/social-security-optimizer.