Social Security Claiming Mistakes Cost You Big | Raleigh News

Raleigh News Today | 2 Min News | The Daily News Now! · Jul 19, 2026 · 2m

Social Security is wildly misunderstood—and timing your claim could cost you permanently. Claiming at 62 slashes your monthly benefit by 30%, but waiting until 70 boosts it by 8% per year. Someone retiring in 2026 who claims early gets just $2,969/month; waiting until 70 nets over $5,000/month—a $2,000+ monthly gap that grows with cost-of-living adjustments. Experts say waiting is smarter if you live past 80, since the break-even point is often around age 80. Also, if you’re still working past 62, earnings over $24,480 in 2026 will reduce your benefits. Married couples should coordinate…