Social Security at 67 vs 70: Is Delaying to 70 Worth It?
Waiting from 67 to 70 adds 24% to your Social Security benefit. Compare the totals and see when the delay pays off.
Waiting from 67 to 70 adds 24% to your Social Security benefit. Compare the totals and see when the delay pays off.
Delaying from full retirement age (67) to 70 earns 8% per year in delayed credits — 24% more per month. On a $2,000 benefit that is $480 more per month, forever.
The trade-off: you give up three years of payments (36 × $2,000 = $72,000 in this example) to get a permanently higher check. The break-even is around age 82-83 for 67 vs 70 — meaning you need to live past ~82 for the delay to pay back, though the higher benefit also lifts survivor benefits for a spouse.
For many retirees with adequate savings, the 70 option is the safest longevity insurance available. Compare your numbers with the delayed credits calculator.
Frequently Asked Questions
How much does waiting from 67 to 70 add?
24% more per month (8% per year for three years) — e.g., $2,000 to $2,480.
What is the break-even for 67 vs 70?
Around age 82-83 for typical benefits — the three years of skipped payments take that long to recover.
Does waiting to 70 help my spouse?
Yes — a higher benefit means a higher survivor benefit, which is often the biggest reason couples delay.