Am I Correct That I Should Wait Until Age 70 To Start Drawing Benefits If I Want To Receive The Highest Possible Rate?

Jan 26 2018 - 8:55am

I’m 60, my wife is 48. She earns much more than me. She plans on working for at least another 10 years. Me, not sure. I assume that I should wait until age 70 to begin receiving my full ss benefits. My goal is to collect the highest benefits possible, naturally. Am I correct?

BTW—LOVE the software!!! Thanks for the valuable service that your team provides! Peace of mind!!


Yes, if you wait until age 70 to start drawing your benefits your monthly retirement benefit rate will be roughly 26-28% higher than if you start drawing at full retirement age. You could potentially increase your future benefit rate even further with additional earnings, but only if you earn more in a year than in one or more of your previous highest 35 years of wage-indexed earnings (

Best, Jerry