Claiming at 62 vs 70: Up to $1,033,344 Lifetime Difference

For a maximum earner with $3,795 monthly benefit at full retirement age (67)

The Details

THE PART MOST PEOPLE MISS: The breakeven assumes no investing. If you claim early and invest the difference at 6% annually, you could need to live past 92 to make waiting worthwhile — but this strategy requires discipline most retirees lack.

What this means for you

Retirement decisions compound — getting one of these details wrong can cost tens of thousands of dollars over a retirement. The good news: most of these mistakes are completely avoidable if you understand how the rule actually works.

Next step

If you want to see how this applies to your specific situation, take the free Retire Ready Score — a 2-minute assessment that scores your current plan across income, taxes, healthcare, and protection.