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Social Security Timing — Why Waiting Isn't Always the Right Answer
Everyone tells you to wait until 70 to claim Social Security.
Here's when that advice is wrong.
Waiting until 70 maximizes your monthly benefit — that part is true. But it's not the right move for everyone. Here's why:
1. Your break-even age matters
The break-even point for waiting from 62 to 70 is typically around age 80–82. If your health history or family longevity suggests you may not reach that age, claiming earlier often makes more financial sense.
2. Sequence of withdrawals
If waiting until 70 means drawing down your portfolio aggressively in your 60s to cover living expenses, you may be doing more damage than the increased benefit is worth.
3. Spousal strategy
For married couples, the optimal strategy is rarely as simple as 'both wait.' In many cases, one spouse claims early and the other waits — and the math can be surprisingly different from what you'd expect.
4. You actually have to live to collect
A higher benefit doesn't help your household if you don't live to collect it. The goal is optimizing total lifetime income, not maximizing the monthly check.
There's no universal right answer on Social Security. The right answer depends on your health, your spouse, your income sources, and your portfolio.
We run personalized Social Security analyses for every client we work with — it's one of the most impactful decisions in the retirement planning process.
📅 Want to know your optimal claiming strategy? Schedule a complimentary consultation — link in bio.
See thrivent.com/social for important disclosures.
Thrivent financial advisors and professionals have general knowledge of the Social Security tenets. For complete details on your situation, contact the Social Security Administration.
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