When Should You Take Social Security?
By Jesse Stacy MTAX, CFP®, EA, | JCS Retirement Tax Advisors, Columbus, OH | Last reviewed July 2026
You can start Social Security anytime between 62 and 70, and the right age depends on your health, your other income, and what the rest of your tax picture looks like. Claim at 62 and your check is cut 30 percent for life. Wait until 70 and it grows to 124 percent of your full benefit. For many of the retirees I work with here in Columbus, Ohio, the answer lands later than they expected. Not always, though. Here is how to think it through.
What the Claiming Decision Actually Is
Social Security gives you one main lever: when to start. If you were born in 1960 or later, your full retirement age is 67. Start earlier and every check for the rest of your life is smaller. Start later and every check is bigger. That is the whole trade. You are choosing between more checks and bigger checks.
It is also one of the few retirement decisions that is permanent. You can adjust a withdrawal plan every year. You get one real shot at this.
How the Math Works
The reduction and the credits are set by formula. Here is what the same benefit looks like at three common claiming ages, using a $3,000 full retirement age benefit as the example.
Claiming age Share of your full benefit Monthly check on a $3,000 full benefit
62 70% $2,100
67 (full retirement age) 100% $3,000
70 124% $3,720
The gap between the top and bottom rows is $1,620 a month, every month, for life, and it gets a cost of living adjustment every year. Run the simple break-even arithmetic and waiting typically pays off if you live into your late 70s or early 80s. For a healthy 62 year old, that is not a long shot. It is the likely outcome.
The Tax Side Most People Miss
Up to 85 percent of your Social Security can be taxable at the federal level. It depends on your combined income, which is your adjusted gross income plus tax-exempt interest plus half of your benefits. For a married couple filing jointly, benefits start becoming taxable above $32,000 of combined income, and the 85 percent tier kicks in above $44,000. Those thresholds are not indexed for inflation, so most retirees with real portfolios land in them.
Two pieces of better news. Ohio does not tax Social Security at all. And through 2028, filers 65 and older get an extra $6,000 deduction per person on the federal return, which phases out above $150,000 of income for joint filers.
One more wrinkle if you claim early while still working. In 2026, if you are under full retirement age all year, Social Security withholds $1 of benefits for every $2 you earn over $24,480. The withheld money is credited back through a higher benefit once you reach full retirement age, but it surprises people every year.
A Simple Example
Say you and your spouse are both 63, recently retired in Westerville, with about $1.5 million in traditional IRAs and old 401(k)s. Your full benefit is $3,000 and your spouse's is $2,200. One approach we map out a lot: the lower earner claims at 67, the higher earner waits until 70. The bigger check grows to $3,720, and because the survivor keeps the larger of the two benefits, that growth protects whichever of you lives longer.
The years in between are not dead time. You live on IRA withdrawals while your tax rate is low, and if the numbers support it, you convert some of that IRA money to Roth before the big Social Security income arrives. The claiming decision and the tax plan are one conversation, not two. That is the piece most people never connect.
And it is honest to say the plan can change. A health scare, a market downturn, a consulting gig that pays better than expected. Any of those can move the answer. Planning is iterative, and this decision deserves a fresh look every year until you claim.
The Whole Idea
There is no single right age, but there is a right age for your situation, and it comes from running your numbers instead of following a rule of thumb. The claiming date, the withdrawal plan, and the tax bill all move together. That is the kind of thing worth having someone map out with you before you file.
Frequently Asked Questions
Is it better to take Social Security at 62 or 67?
It depends on health, cash flow, and taxes. Claiming at 62 permanently cuts your benefit by 30 percent. It can still make sense if your health is poor, you need the income, or you have no other resources to bridge the gap. If you can afford to wait, the math usually favors waiting.
How much does my benefit grow if I wait until 70?
If your full retirement age is 67, waiting until 70 raises your check to 124 percent of your full benefit. That increase is permanent, and future cost of living adjustments apply to the bigger number.
Does Ohio tax Social Security benefits?
No. Ohio lets you deduct Social Security benefits on the state return, so no part of your benefit is taxed by Ohio, even the portion taxed federally.
Can I work and collect Social Security at the same time?
Yes, but if you are under full retirement age for all of 2026, benefits are reduced by $1 for every $2 you earn above $24,480. In the year you reach full retirement age the limit jumps to $65,160 with a gentler reduction, and once you reach full retirement age there is no earnings limit at all.
Jesse Stacy is a CERTIFIED FINANCIAL PLANNER™ and an IRS Enrolled Agent in Columbus, Ohio, where JCS Retirement Tax Advisors helps pre-retirees and retirees coordinate their tax and retirement decisions. This article is for education only. It is general information, not personal tax, legal, or investment advice. Figures reflect 2026 rules and can change.
Sources:
SSA: Retirement age and benefit reduction (30% reduction at 62 for full retirement age 67)
SSA: Delayed retirement, born in 1960 (124% of full benefit at age 70)
SSA: Receiving benefits while working (2026 earnings limits of $24,480 and $65,160)
IRS: Social Security benefits may be taxable (combined income thresholds)
IRS: New enhanced deduction for seniors ($6,000, tax years 2025 through 2028)
Ohio Department of Taxation: Retirement income FAQ (Social Security deducted on the Ohio return)