We don't get a lot of guarantees in retirement. One of the few is a regular monthly Social Security check for as long as we live. Yes, even if you're decades away from retirement, Social Security will still be there for you.
But while we're guaranteed a monthly benefit, we're not guaranteed a certain amount of money. How much we get depends in part on our choices, both while we're working and when we sign up. The trouble is, we don't always recognize all the options available to us, and that can lead to missing out on valuable opportunities to grow our benefits.
There's one move in particular that can drastically increase your Social Security benefits, but only about one in 10 people pull this off. It's not right for everyone, but it could be your ticket to your largest possible checks.
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Timing your Social Security application correctly is key
You probably already know that the more you earn during your working years, the larger your Social Security benefits are in retirement -- as long as you're earning less than the taxable wage base ($176,100 in 2025). But this isn't the only factor that affects your checks.
Your claiming age matters, too. You become eligible for benefits once you turn 62, but the Social Security Administration will consider it an early claim if you sign up then, and it will reduce your monthly retirement benefit by up to 30%. If you want to avoid this, you have to wait until your full retirement age (FRA) to apply. This is 67 if you were born in 1960 or later. Some older adults have lower FRAs.
But you don't have to apply at your FRA, either. You can continue to delay benefits, and your checks will keep growing until you reach 70. Every year you wait will add another 8% to your checks, so the difference can be pretty substantial.
If you qualify for a $2,000 monthly benefit at 62 and have an FRA of 67, waiting until 70 could give you $3,543 per month -- more than a $1,500 difference. This doesn't include cost-of-living adjustments (COLAs), so the actual benefit you could get at 70 would likely be higher.
A survey by the nonprofit National Bureau of Economic Research found that more than 90% of Americans would get their largest lifetime benefit by waiting until 70 to sign up. Yet only about 10% of people actually do this, and the reasons are complicated.
Why more people don't wait until 70 to claim Social Security
There are two key reasons most people claim Social Security before 70, even if it means accepting a smaller lifetime benefit.
1. They can't afford to wait that long
Some people can't afford to cover their own living expenses until 70, especially if they weren't able to save as much as they wanted during their working years. When you're weighing a smaller lifetime Social Security benefit against falling deep into debt, a smaller lifetime benefit is the lesser of two evils.
If you want to maximize your Social Security benefits but you're worried you may not be able to delay your application that long, you may have to delay your retirement until you're ready to apply. Or you could try to set aside more money for retirement today if you're able to.
When that's not enough, you could delay Social Security for a few months or years rather than waiting until 70. Every month you wait to apply permanently increases your checks, so even a shorter wait could give your benefit a meaningful boost.
2. They have a short life expectancy
Those with short life expectancies may get a larger lifetime benefit by claiming early than by waiting until 70 to apply. If you have a terminal illness or a poor health history -- personally or in your family -- you may prefer to sign up early rather than take the risk that you might die before you reach 70.
In this case, just be aware that if you claim early, you might reduce the survivor benefit your spouse is entitled to after you pass away. This is different from the spousal benefit they may qualify for while you're alive. If you're worried your spouse will be heavily dependent on survivor benefits, you may prefer not to sign up for Social Security at all so your spouse can get more money later. After you pass, they'll be eligible for a monthly survivor benefit if they're 60 or older (50+ if disabled) or if they're caring for your minor or disabled child. They'll need to provide the Social Security Administration with a copy of your death certificate and documentation proving their relationship to you.
It can be a little overwhelming trying to estimate your life expectancy and your retirement budget to determine your optimal claiming strategy. But it's important to remember that, if you haven't applied yet, you still have time to change your mind. If a change to your health or finances comes up, you can always revisit your claiming age if you need to.
