The 2026 Guide to Social Security: Should You Claim at 62, 67, or 70?

One of the most important financial decisions you’ll make in retirement isn’t about investments — it’s about when to claim Social Security.

The difference between claiming at age 62 versus 70 can mean hundreds of thousands of dollars over your lifetime.

So how do you decide?

In 2026, with rising costs, longer life expectancies, and evolving tax considerations, choosing the right claiming strategy requires more than a simple rule of thumb — it requires personalized planning.

Understanding Your Full Retirement Age (FRA)

Your Full Retirement Age (FRA) is the age at which you’re entitled to receive 100% of your Social Security benefit.

For most individuals retiring in 2026, FRA is around 67 (depending on birth year).

Claiming before or after this age directly impacts your monthly benefit.

Option 1: Claiming at Age 62 (Early)

Pros:

• Access to income sooner
• Helpful if retiring early
• Useful if you need immediate cash flow

Cons:

• Permanent reduction in benefits (up to ~30%)
• Lower lifetime income if you live longer
• Potentially higher taxation impact

Best for:

• Individuals with shorter life expectancy
• Those needing income immediately
• Those with limited retirement savings

Option 2: Claiming at Age 67 (Full Retirement Age)

Pros:

• Full benefit amount
• Balanced approach between early and delayed
• No early-claiming penalties

Cons:

• Missed opportunity for higher delayed credits

Best for:

• Individuals seeking a balanced strategy
• Those retiring around traditional retirement age

Option 3: Claiming at Age 70 (Delayed)

Pros:

• Maximum monthly benefit (up to ~8% increase per year after FRA)
• Higher lifetime income for longer lifespans
• Increased survivor benefits for spouses

Cons:

• Delayed income
• Requires drawing from other assets first

Best for:

• Individuals in good health
• Those with longevity in their family
• Those with other income sources

Key Factors That Impact Your Decision

Longevity Expectations

The longer you live, the more beneficial it is to delay benefits.

Income Needs

If you need income immediately, early claiming may be necessary.

Tax Strategy

Social Security benefits can be taxable depending on your total income.

Spousal and Survivor Benefits

Married couples should coordinate claiming strategies to maximize lifetime and survivor income.

Retirement Assets

Having other income sources allows more flexibility in delaying benefits.

Tax Considerations in 2026

Up to 85% of Social Security benefits may be taxable, depending on your combined income.

Strategic planning can help:

• Reduce taxable income
• Coordinate withdrawals
• Avoid unnecessary tax brackets
• Manage Medicare IRMAA thresholds

Why Fiduciary Guidance Matters

Social Security decisions are irreversible in many cases — and mistakes can be costly.

A fiduciary financial advisor helps you:

• Analyze claiming scenarios
• Optimize lifetime income
• Coordinate with tax strategies
• Align Social Security with retirement income planning
• Avoid costly mistakes

A fiduciary approach ensures decisions are made in your best interest — not based on generic advice.

The Big Picture: It’s About Lifetime Income

The goal isn’t just maximizing a monthly check — it’s maximizing lifetime income, tax efficiency, and financial security.

There is no one-size-fits-all answer.

The right strategy depends on your health, goals, assets, and overall retirement plan.

Learn More

For fiduciary financial planning, Social Security optimization, and retirement income strategies, visit:

👉 https://www.ryanpeca.com

Global View Capital Management (GVCM) is an affiliate of Global View Capital Advisors (GVCA). GVCM is a SEC Registered Investment Advisory firm headquartered at N14W23833 Stone Ridge Drive, Suite 350, Waukesha, WI 53188-1126. 262.650.1030. Registration as an Investment Advisor does not imply a certain level of skill or training. Ryan Peca is an Investment Adviser Representative (“Adviser”) with GVCM. Additional information can be found at www.adviserinfo.sec.gov Global View Capital Insurance Services (GVCI) is an affiliate of Global View Capital Advisors (GVCA). GVCI services offered through Experior Financial Group, ASH Brokerage, and/or PKS Financial. GVCI is headquartered at N14W23833 Stone Ridge Drive, Suite 350, Waukesha, WI 53188-1126. 262-650-1030. Ryan Peca is an Insurance Agent of GVCI.