Maximizing Benefits or Missing Out? The Hidden Risks of Delaying Social Security.
Delaying Social Security until age 70 is often praised as the best way to maximize your monthly benefits, but it’s not always the smartest move.
While you get an 8% annual increase in your check after full retirement age, waiting comes with hidden risks that could leave you with less financial security, not more.
The so-called "break-even" age—when the total benefits from waiting surpass those from claiming earlier—typically falls around 80-82 years old.
If you pass away before then, you’ve left money on the table instead of enjoying it when you needed it most.
By delaying Social Security, you’ll need to rely more on your personal savings to cover expenses in your late 60s. This can:– Reduce investment growth, as you withdraw more early on.
Increase the risk of outliving your savings, especially if markets decline.Limit lifestyle choices, forcing you to cut back on travel, home upgrades, or hobbies.
Life can be unpredictable. If a health crisis, job loss, or financial emergency arises, waiting for a bigger check might not be an option anymore—and you could end up claiming Social Security later than you needed to.
Maximizing your monthly benefit doesn’t always mean maximizing your retirement security. If delaying Social Security jeopardizes your financial stability today, it may be better to claim earlier and enjoy the income while you can still make the most of it.