When Should You Start Social Security Benefits? It Depends
The answers to these five questions can help you determine when it’s a good time to file for Social Security. The timing is different for everyone.


“Joe, I enjoyed your workshop, but you have to stop using the word ‘depends’ when you’re talking to a bunch of old folks!”
This was the response I got from a gentleman in the crowd after giving a presentation on Social Security. I shared during the talk that there isn’t one best time to start Social Security benefits — and the right time for each individual depends on many factors.
So how can we determine when you should start your Social Security benefits if there’s not a “best” time? We look at the available information to make an educated decision. Here are the five questions we consider when helping our clients decide when to start taking Social Security income.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Question 1: Are you still working and under full retirement age?
Full retirement age (FRA) ranges from age 66 to 67, depending on your year of birth. If you begin benefits prior to FRA, then you can only make up to a certain amount each year from your job before your Social Security benefits are reduced. (The limit is $22,320 for 2024.)
If you make more than the limit, it may make sense to delay starting Social Security benefits to avoid reductions. Delaying also allows your Social Security benefits to keep growing, providing you with more monthly income for retirement. (This growth stops at age 70, however.)
Question 2: How’s your health?
Your current health status is an important consideration when thinking about starting Social Security benefits. Remember, you can delay your benefit up to age 70, and if you do, your benefits could nearly double from what they are at age 62.
There is a downside to delaying: If you’re eligible to receive partial benefits at age 62 and wait until age 70, you’ll go eight years with zero Social Security income. The break-even point (where it makes most sense to wait until 70) is somewhere between the ages of 80 and 83, depending on how you calculate it.
If your health is poor, you might consider turning on Social Security income earlier. But if you expect to live to and past age 80, it may make sense to delay in order to maximize your benefits. We don’t know what will happen down the road, but your current health could be a determining factor regarding when to start benefits.
Question 3: How much do you have in tax-deferred accounts?
Social Security was tax-free before the 1980s, but today, it can be taxable if you don’t plan appropriately. For many of our clients, we look at delaying Social Security benefits to age 70 and instead relying on income from tax-deferred vehicles such as a 401(k) or IRA.
Drawing down these accounts first has two distinct advantages. First, it allows our clients to increase their Social Security benefits. Second, it provides the opportunity to reduce required minimum distributions (RMDs) from tax-deferred accounts later, since RMDs are partially calculated based on the amount of money in the account. Since RMDs are taxable, reducing RMD amounts can result in a lower tax bill. This is particularly helpful for those who have $1 million or more saved in retirement accounts, such as an employer-sponsored retirement plan or IRA.
Question 4: What benefits will your spouse receive?
For married couples, we typically look at how much in Social Security benefits each spouse is entitled to receive. Spouses who haven’t qualified for benefits — usually because they stayed home or worked part time — can get half of their spouse’s Social Security benefits if their own benefits equal less than 50% of what the primary earner has earned.
For example, let’s say Jim qualifies for Social Security benefits of $3,000 per month when he reaches his full retirement age. His wife, Linda, stayed home for several years and then worked part time to be flexible for the family. She is eligible to receive $1,000 per month in benefits.
Under the spousal rule, Linda would be eligible to receive $1,500 in monthly benefits, half of the $3,000 in monthly Social Security income Jim will receive. The extra $500 per month could make a big difference for Jim and Linda as they grow older.
Question 5: What will happen to your spouse’s benefits if you die?
If you’re married and pass away, your spouse can elect to either keep their own benefits or take yours, whichever amount is higher. From the example above, say Jim passes away at age 75. Linda can either keep receiving her $1,500 monthly or drop her benefits and switch to Jim’s $3,000 benefits. (Obviously, we’d advise her to take the second option!)
Delaying benefits for the primary earner could result in more monthly income for the surviving spouse. On the other hand, starting benefits earlier may provide a couple with more income for the things they love to do together when they’re both still in good health.
While the gentleman who attended my workshop may have hated the word “depends,” deciding when to take Social Security benefits truly depends on your life and unique situation. Asking these five questions and pinpointing what works best for you can help you select the right time for turning on Social Security income.
Here are some resources from the Social Security Administration to help you answer questions about your benefits:
Related Content
- Three Social Security Changes in 2024 to Know
- Can You Collect Social Security if You’re Still Working?
- Do You Have the Five Pillars of Retirement Planning in Place?
- Do You Have at Least $1 Million in Tax-Deferred Investments?
- Are You Taking Too Much Risk in Retirement?
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

As Founder and CEO of Peak Retirement Planning, Inc., Joe Schmitz Jr. has built a comprehensive retirement planning company focused on helping clients grow and preserve their wealth. Under Joe’s leadership, a team of experienced financial advisers use tax-efficient strategies, investment management, income planning and proactive health care planning to help clients feel confident in their financial future — and the legacy they leave behind. Joe has also written two books, I Hate Taxes (request a free copy) and Midwestern Millionaire (request a free copy). You can find Joe on YouTube by clicking here, where he creates educational videos for those in or near retirement with $1M or more saved.
-
Best Home Rental Websites and Apps 2025
The best home rental websites and apps, such as Rent.com, Apartment Guide, Airbnb and Vrbo, can make finding a home or vacation rental a whole lot easier.
-
Stock Market Today: Markets Chop Up More Trump Threats
Stocks are grinding to new highs on light summer volume, and bitcoin is only getting bigger.
-
Financial Pros Provide a Beginner's Guide to Building Wealth in 10 Years
Building wealth over 10 years requires understanding your current financial situation, budgeting effectively, eliminating high-interest debt and increasing both your income and financial literacy.
-
Five Mistakes to Avoid in Your First Year of Retirement
Retirement brings the freedom to choose how to spend your money and time. But choices made in the initial rush of excitement could create problems in future.
-
I'm an Investing Expert: This Is How You Can Invest Like Warren Buffett
Buffett just invested $15 billion in oil and gas, and you can leverage the same strategy in your IRA to potentially generate 8% to 12% quarterly cash flow while taking advantage of tax benefits that are unavailable in any other investment class.
-
Integrity, Generosity and Wealth: A Faith-Based Approach to Business
Entrepreneurs who align their business and financial decisions with the biblical principles of integrity, generosity and helping others can realize impactful and fulfilling success.
-
How Much Income Can You Get From an Annuity? An Annuities Expert Gets Specific
Here's a detailed look at income annuities and the factors that determine your payout now and in the future.
-
Your Paycheck Stops in Retirement, But Your Life Doesn't: An Expert Guide to Planning for a Confident Future
Social Security will replace only about 40% of your salary, on average. A solid financial plan will help you plug the gap so you can rest easy in retirement.
-
Are You Jeopardizing Your Future to Help Your Adult Kids? An Expert Guide for How to Not Do That
If your adult child needs financial help, of course you want to provide it, but crafting a plan that also protects your financial and emotional well-being is vital.
-
I'm a Financial Planner: Here Are Some Long-Term Care Insurance Tips for Every Age
Strategies include adding riders to life insurance for younger individuals and considering hybrid or traditional long-term care policies for those in their mid-50s and 60s.