3 Questions You Should Be Asking Before You Claim Social Security

It’s not just about when you can claim Social Security. It’s about when you should.

Social Security may feel like a simple decision: turn a certain age, file a claim, collect your check. But it’s far more nuanced, and potentially worth hundreds of thousands of dollars over your lifetime. If you’re nearing retirement age, here are three critical questions to ask before you file.

1. How long do I plan to work, and how will working affect my benefits?

If you claim Social Security before your full retirement age (FRA), your benefits may be reduced if you keep working and earn more than the annual earnings limit. In 2025, that limit is $22,320. For every $2 you earn above it, $1 of your benefit is temporarily withheld.

But that’s not necessarily a bad thing. Once you reach your FRA, those withheld benefits are recalculated into your monthly check, potentially increasing it going forward. Still, it’s important to understand the short-term and long-term impacts of working while receiving benefits.

Also consider how your work income affects your taxes. Up to 85% of your Social Security benefits may be taxable, depending on your total income.

Things to consider:
• Will you be working part-time or full-time?
• Do you need your benefit income right away, or can you wait?
• How might your continued earnings affect your overall tax situation?

2. What will my benefit be at different ages, and how much will I receive over my lifetime?

Your monthly Social Security benefit depends on when you claim. The earlier you file, the smaller your monthly check, but you receive it for more years. The later you claim (up to age 70), the larger your check, but you receive it for fewer years.

Here’s the tradeoff: If you claim benefits at age 62, you can start collecting early, but your monthly amount may be reduced by as much as 30%. If you wait until your full retirement age (FRA), you’ll receive 100% of your earned benefit. And if you delay beyond FRA, your benefit increases by 8% for each year you wait, up to age 70, potentially reaching up to 124% of your full benefit.

But it’s not just about the monthly amount. It’s about lifetime value. Depending on how long you live, delaying can increase your total lifetime benefits by tens or even hundreds of thousands of dollars.

Things to consider:
• What are your projected benefits at 62, FRA, and 70?
• What is the maximum age you expect to live? (Social Security is a lifetime benefit so make sure you consider this longevity risk.)
• Do you have other income sources that can cover your needs while you delay?

3. How does my decision impact my spouse or dependents?

Social Security isn’t just about individual retirement benefits. It’s a safety net for families.

Your claiming decision can affect more than just your own benefit. A lower-earning or non-working spouse may be eligible for up to 50% of your benefit, but claiming early can reduce that amount. If you pass away first, your spouse may receive your benefit as a survivor benefit, so a lower claim now could mean less for them later. Divorced spouses may also qualify if the marriage lasted at least 10 years and they haven’t remarried. And if you have minor children or a disabled adult child, they may be eligible for benefits based on your record.
Things to consider:
• Are you coordinating with your spouse to maximize household income?
• Have you reviewed eligibility for any dependent benefits?
• Do you understand how survivor benefits are calculated?

Social Security is not one-size-fits-all. The “right” age to claim depends on your work plans, health outlook, income needs, and family structure. These three questions can help uncover what’s truly at stake, and why personalized planning matters.

Photo by Towfiqu barbhuiya on Unsplash

This article is the property of the National Association of Registered Social Security Analysts Ltd. (NARSSA). It may not be reproduced, republished, or adapted without express permission. Approved RSSAs may request permission to share or adapt this article by contacting pkweller@rssa.com.