It depends. Social security is a guaranteed, predictable, reliable, inflation protected stream of income that you cannot outlive. And once elected, the decision about when to begin benefits is irrevocable.
Age 62 is the earliest you can get it, at a reduced benefit. Age 67 is full retirement age. Age 70 is the latest deferral age. Every month you wait between 62 and 70, your check will get bigger. The amount of your benefit is based on your highest 35 years of earnings in which you contributed to social security. That calculation determines your PIA or primary insurance amount to which you are entitled at your FRA or full retirement age.
When deciding when to begin benefits, other factors should be considered as well. Are you still working? How is your health? Do you need the money? Do you have spouse with whom you can coordinate benefits?
Also, even if you qualify for the maximum benefit in 2026, which is $4100/month at full retirement age, that’s likely not going to be enough to support you in retirement. Social security was never designed to be your only source of income in retirement. They mention that on the front page of your benefits estimate. It was created in 1935 in the heels of the great depression as a safety net so retirees would not be destitute. And at the time it was conceived, life expectancy was much less than it is today.
You’ll need to coordinate your SS benefits with your other sources of retirement income in order to enjoy a comfortable retirement.
Call me for help.