For many retirees, Social Security is a foundational piece of the income puzzle. But deciding when to begin benefits is more nuanced than simply reaching a certain age.

At Stonebrook Private, we believe the right timing depends on more than your birthdate. It’s about the full picture—your financial needs, health outlook, marital situation, and how Social Security fits into your broader retirement strategy.

You can begin collecting Social Security as early as age 62 or delay until as late as age 70. The decision you make directly affects the size of your monthly benefit—for life.

Claiming at 62 results in a reduced benefit—typically around 70–75% of your full retirement amount, depending on your birth year. Waiting until your Full Retirement Age (FRA)—usually between age 66 and 67—means receiving 100% of your benefit. If you wait until age 70, delayed retirement credits increase your monthly benefit to approximately 124% of your FRA amount.

Delaying benefits can significantly boost long-term income, but it’s not always the right move for every retiree. That’s where personalized planning becomes essential.

At Stonebrook, we help clients think through the variables that often guide this decision:

Do you need the income now—or can you afford to wait?

If you have other reliable income sources or plan to work part-time, delaying Social Security may enhance your lifetime benefit. But if Social Security is essential to cover near-term expenses, claiming earlier may be a practical choice.

What’s your health and longevity outlook?

Social Security provides longevity protection. For those in good health or with a family history of long life expectancy, delaying can make financial sense. On the other hand, earlier claiming may be more appropriate for those with health concerns.

Are you still working?

If you begin benefits before your full retirement age and continue working, part of your benefit may be withheld depending on your earnings. This could reduce the immediate value of early claiming and complicate tax planning.

What is your spouse’s situation?

Spousal coordination is often overlooked but can be one of the most important strategic elements. In some cases, it may make sense for one spouse to claim early while the other delays—balancing short-term income needs with long-term benefit optimization.

We don’t view Social Security in isolation. It’s one component of your retirement income strategy—alongside IRAs, 401(k)s, taxable accounts, and other savings. The goal is to align these sources in a way that minimizes taxes, maximizes flexibility, and supports your long-term goals.

Our process includes modeling break-even scenarios, evaluating spousal strategies, and coordinating withdrawals across account types. We also help clients anticipate how Social Security interacts with Medicare premiums, Required Minimum Distributions (RMDs), and other financial planning considerations.

There’s no one-size-fits-all answer to when you should take Social Security—but there is a thoughtful, data-driven way to make that decision. With proper planning, your Social Security strategy can be a cornerstone of retirement income that works in harmony with the rest of your financial life.

Let’s talk about how to make that decision with clarity and confidence.