Millions of Americans picture 65 as the magic number for retirement.
For anyone born in 1960 or later, that picture is now officially wrong.
The full retirement age — the point at which you can collect 100% of your Social Security benefit — has climbed to 67 for everyone born from 1960 onward.
That means a worker turning 62 this year faces a five-year gap between the earliest possible claim and the age that pays the full amount.
Claiming early is allowed, but it comes at a permanent price.
File at 62 and your monthly check shrinks by roughly 30% compared with waiting until 67.
On a $2,000 full benefit, that's about $600 less every month — for life.
Wait past 67 and the math flips in your favor.
Each year you delay adds 8% to your benefit until age 70, the maximum.
Someone who holds out those three extra years could see a check roughly 24% bigger than the full amount.
The gap matters more than ever because Social Security checks are already stretched thin.
The 2025 cost-of-living adjustment came in at 2.5%, one of the smallest raises in years, while grocery bills and rent have kept climbing in many metro areas.
A smaller check plus slower inflation adjustments is a squeeze retirees feel at the register.
There's another wrinkle that catches people off guard: Medicare premiums are typically deducted straight from your Social Security payment.
A higher Part B premium can quietly eat into any raise before the money ever hits your bank account.
Start by pulling your free statement at ssa.gov to see your estimated benefit at 62, 67, and 70.
Those three numbers tell the real story for your situation.
If you're still earning a paycheck, claiming before 67 can trigger the earnings test, temporarily withholding part of your benefit.
If you're retired and in poor health, waiting may not make sense.
Married couples have extra moves to consider.
A higher-earning spouse who delays can lock in a bigger survivor benefit for the partner who outlives them, which is often the single most valuable claiming decision a household makes.
Divorced Americans shouldn't assume they're out of luck either.
If a marriage lasted at least 10 years, an ex-spouse's record may open the door to a larger benefit, even if that person has remarried.
The bottom line: 67 is the new default, not a suggestion.
But the smartest age depends on your health, your savings, and whether someone else depends on your check. **Our take:** Treat the full retirement age as a starting line, not a finish line.
Final Thoughts
Run your own numbers before you file, because a rushed claim is one of the few retirement decisions you can't undo.