The Learn Library · Topic hub
Social Security
When to claim is one of the few retirement decisions that is permanent — and one of the most consequential. This hub gathers everything on the site about Social Security: the 62-vs-70 tradeoff, spousal and survivor rules, how benefits are taxed, and the 2026 numbers worth keeping on hand.
2026 COLA
2.8%
Annual cost-of-living adjustment, tied to the CPI-W.
Full retirement age
67
For everyone born in 1960 or later.
Claim at 62
70% of your full benefit
A permanent 30% reduction for someone with an FRA of 67.
Wait until 70
124% of your full benefit
Delayed credits earn 8% per year past FRA. No growth after 70.
2026 maximum monthly benefit
$2,969 · $4,152 · $5,181
At 62 · at FRA · at 70.
Earnings test before FRA
$1 withheld per $2
Earned above $24,480 in 2026. Recalculated into a higher payment at FRA.
Educational reference, not advice. Figures are for 2026 and are explained, with sources, in the guides below.
The guides
Social Security claiming: a framework for getting it right
When to claim, the 62-vs-70 tradeoff, spousal and survivor rules, taxation, and how timing shapes the whole plan.
Read Related · 7 min readThe order you draw down accounts is a tax decision
Provisional income, the Social Security tax torpedo, and how withdrawal sequence determines how much of your benefit is taxed.
Read Related · 7 min readWithdrawal rates: what the research actually says
The income side of the claiming decision — sustainable withdrawal rates and the portfolio that bridges the gap while a benefit grows.
Read Related · 5 min readClaiming at 62 Costs You 30% — Forever. Here's the 2026 Math.
With a full retirement age of 67, claiming at 62 locks in 70% of your full benefit for life — the 2026 formula and maximums, shown plainly.
Read Related · 5 min readRetiring at 65? The 2.8% COLA Changes Your Social Security Math for 2026
The 2026 COLA is 2.8%. What it does to your check, why claiming at 65 pays 86.7% of your full benefit, and how the earnings test works.
Read Related · 6 min readThe Social Security Tax Torpedo: How $1 From Your IRA Can Tax $1.85 in 2026
Above $44,000 of provisional income, each extra IRA dollar can pull $0.85 of Social Security into the taxable column — $1.85 taxed per $1 withdrawn.
Read Related · 5 min readSpousal Social Security: Who Gets 50 Percent — and Who Gets Less
The 50% ceiling, the early-claiming reductions, deemed filing, the 10-year divorce rule, and the survivor step-up — laid out plainly.
Read Related · 6 min readSurvivor Benefits: The 100% Rule, and the Clock That Starts at 60
What a surviving spouse actually receives — the 71½%–100% schedule, the switch strategy that survived, and the tax squeeze after a death.
Read Related · 5 min readThe WEP Is Gone: What the Social Security Fairness Act Restored
The repeal that restored benefits for 3.2 million public workers — who was paid automatically, and who must still apply.
ReadPrefer a guided path? Retirement 101 — the free 8-chapter course
Run your own numbers
Social Security Claiming Estimator
Compare your estimated monthly benefit at 62, full retirement age, and 70 — side by side, from your birth year and benefit estimate.
Open the calculatorAll planning tools
The full set — retirement projection, tax brackets, Roth conversion illustration, and the Retirement Checkup.
Browse the toolsNot sure where your plan stands? Find your gaps across income, taxes, resilience, and clarity in about two minutes.
Take the CheckupCommon questions
Can I claim Social Security at 62 and still work?
Yes, but the Social Security earnings test applies before full retirement age (FRA). In 2026, benefits are reduced by $1 for every $2 earned above $24,480. Benefits withheld under this test are recalculated into a higher payment at FRA, but the interim cash flow reduction should be built into your plan.
Does delaying Social Security to 70 always make sense?
Not always. Delayed claiming rewards households with good health, longevity expectations, and assets to bridge the gap. For someone with poor health, limited other income, or a spouse who depends on early access, an earlier claim may produce a better household outcome. A breakeven and longevity analysis should inform the decision.
What happens to my spouse's Social Security income when I die?
The surviving spouse steps up to the higher of their own benefit or 100 percent of what the deceased was receiving — including any delayed retirement credits. This makes maximizing the higher earner's benefit one of the most important longevity-insurance decisions a couple can make.
If I claim Social Security, do I have to enroll in Medicare?
Claiming Social Security at or after age 65 triggers automatic Medicare Part A and B enrollment. If you delay Social Security past 65 to earn delayed retirement credits, you must enroll in Medicare separately — Part B carries a late enrollment penalty if missed.
How are Social Security benefits adjusted for inflation?
Social Security benefits receive an annual Cost-of-Living Adjustment (COLA) tied to the CPI-W. The 2026 COLA was 2.8 percent. A higher starting benefit means a larger dollar increase with each annual adjustment — one compounding advantage of delayed claiming.
Ready for the next step?
A claiming date is one decision. A plan is the work.
When the timing question feels timely, a 30-minute conversation turns the ideas here into a coordinated read across investments, taxes, and income — built around your situation.
Educational illustration. Not personalized advice.