When to claim Social Security retirement benefits is one of the biggest financial decisions a retiree will make.
Some social media influencers recently claimed to have cracked the code on that decision — but experts say the calculation they are using is missing crucial context.
Start receiving Social Security retirement benefits at the earliest possible age, 62, some influencers say, since cumulative benefits could be more if started earlier, even though higher monthly checks come with delaying.
The idea is based on a “break-even” age — the point at which delaying benefits yields more total income than claiming early. That typically falls in the late 70s or early 80s.
The Social Security Administration once provided a break-even analysis for retirement beneficiaries. However, SSA ended that practice in 2008 amid concerns from within the agency, as well as from external stakeholders and researchers, that it may distort claiming decisions.
