The Social Security Decision Most People Get Wrong — and How It Costs Them $100,000

Henry Supinski, ChFC® · 5 min read · April 2026

When to claim Social Security is one of the most consequential financial decisions you'll make in retirement. Yet most people spend less than an hour on it. Here's what the research says — and why waiting usually wins.

The Basic Trade-Off

You can claim Social Security as early as age 62 or as late as 70. Every year you wait past your Full Retirement Age (FRA), your benefit grows by 8%. That's a guaranteed, inflation-adjusted 8% return — virtually impossible to replicate in the market with comparable certainty.

Why Most People Claim Early — and Regret It

The most common reason people claim early is fear: fear the program will run dry, fear they'll die before they break even, fear of leaving money on the table. Most of these fears are overstated. The break-even point for waiting is typically around age 80 — and most Americans live well past that.

The Coordination Angle

For married couples, the coordination of claiming strategies can add hundreds of thousands in lifetime income. The optimal strategy depends on both spouses' benefit amounts, ages, and health — and it's almost never the one that feels most intuitive.