Social Security
Make the most of your Social Security benefit
Claiming at the wrong time can cost you tens of thousands of dollars over your lifetime. Understand your options before you decide.
Why Social Security timing matters more than most people realize
Social Security is the foundation of most retirement income plans — yet most people claim without fully understanding the rules. Your claiming age, your spouse's benefit, your tax situation, and your health all affect the optimal strategy. A well-timed decision can mean $100,000 or more in additional lifetime income.
What you need to know
When to claim: 62, 67, or 70?
Claiming at 62 permanently reduces your benefit by up to 30%. Waiting until 70 increases it by 8% per year past full retirement age. The right answer depends on your health, other income, and tax situation.
Spousal and survivor benefits
A spouse can claim up to 50% of your benefit at full retirement age. Survivor benefits can be up to 100% of the deceased spouse's benefit. Coordinating both can significantly increase household income.
How Social Security is taxed
Up to 85% of your Social Security benefit may be taxable depending on your combined income. Understanding the taxation thresholds helps you plan withdrawals to minimize your tax bill.
Break-even analysis
The break-even age — when delayed claiming pays off — is typically around 78-82. If you expect to live past that age and have other income to bridge the gap, delaying often makes sense.
Common questions
Get a personalized Social Security strategy
David O'Bryan, CPA will model different claiming scenarios for your specific situation — so you can make a confident, informed decision.
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