When should I claim Social Security benefits?

You can claim Social Security as early as age 62 (with a permanent reduction of up to 30%), at your Full Retirement Age (FRA — age 67 for those born 1960 or later) for your full benefit, or as late as age 70 (with an 8% increase per year beyond FRA, up to a 24% permanent increase). The longer you wait, the larger your monthly check — but you collect for fewer years. The key question is your 'breakeven age': the age at which delayed claiming overtakes early claiming in total lifetime benefits. For most people with average health, this falls between ages 78 and 82. If you have good health and family longevity, waiting until 70 is often mathematically optimal. Use the Social Security Optimizer at wealthserene.com/tools/social-security-optimizer to calculate your personal breakeven.