Overview
- Following Monday’s viral posts promoting filing at 62, experts told CNBC the break-even pitch ignores unknown lifespans and household risks.
- The age you file sets your payment for life, with up to a 30% cut at 62 for those with a full retirement age of 67, while waiting to 70 can produce roughly a 77% larger check than claiming at 62.
- Early filing by a higher earner can shrink a future survivor check for a spouse, so many planners have the lower earner file first while the higher earner delays to strengthen household and survivor income.
- People who claim before full retirement age and keep working face the 2026 earnings test, which withholds $1 for every $2 earned over $24,480, and withheld amounts are credited back at full retirement age.
- Short or uneven work histories can reduce payments because SSA uses your 35 highest-earning years and requires 40 work credits, and many dual-earning couples average about $49,848 a year from two checks.