Claiming at 62 permanently reduces benefits by 30% compared to full retirement age (67 for most).
Claiming at 62 permanently reduces benefits by 30% compared to full retirement age (67 for most). Each year of delay past 67 adds 8% through age 70. For someone entitled to $2,500/month at 67: claiming at 62 gives $1,750/month, while waiting until 70 gives $3,100/month.
Over 20 years of retirement, that’s a $324,000 difference. The breakeven age is approximately 80 — if you live past 80, delaying was the better financial choice. Average life expectancy at 65 is 84 for men and 87 for women (SSA actuarial tables).
For married couples, the higher earner should almost always delay.
The PivotReset Decision Support Engine shows you the 12-month financial projection for each path.
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