SUBSCRIBE
Enter your Name and Email address to get
the newsletter delivered to your inbox.
Please include name of person that directed you to my online newsletter so I can thank them personally.
David P. McCabe,
WMCP®, ChFC®, CLU®
Financial Planner
Nathaniel D. High,
CFP®, RICP®
Financial Planner
nathaniel@centuriafinancial.com
Nicholas J. Over, CFP®
Financial Planner
nicholas@centuriafinancial.com
Sara E. Martin
Operations Manager
Molly R. Kelsh
Client Service Specialist
Centuria Financial Group
2333 Baltimore Blvd Suite B
Finksburg, MD 21048
Phone: 443-952-7232
November/December 2026
Max Your Social Security at 70
For many years, financial professionals have recommended that most people delay taking Social Security benefits until age 70. The reason is compelling: Each year you delay beyond your full retirement age increases your monthly benefit by 8% in most cases. For those with a full retirement age of 67, waiting until age 70 boosts your monthly check by 24%.
Should You Delay Benefits?
The answer depends on your situation. If you have significant health problems likely to shorten your life expectancy, claiming benefits early often makes sense. However, if you don't need Social Security income to cover daily living expenses, the conventional wisdom to delay until 70 remains strong for most healthy individuals.Strong Reasons to Delay
First, Social Security benefits are guaranteed by the U.S. government and are completely insulated from market volatility. Once locked in, your payment is secure.Second, benefits include built-in inflation protection through annual cost-of-living adjustments (COLAs). By delaying, you receive these increases on a higher base, protecting your purchasing power over decades.
Third, the 8% delayed retirement credit significantly outperforms current interest rates on safe investments. It's a guaranteed return that's hard to match elsewhere — and unlike market investments, it carries no risk of loss.
Key Limits to Remember
There's no financial advantage to delaying benefits past age 70, when your benefit reaches its maximum. Claiming at age 68 still earns you partial credits that accrue monthly, so your exact birthday can influence the final amount. On the other hand, starting benefits at age 62 — the earliest allowed — reduces your monthly checks by 30% compared with your full retirement age benefit, for anyone born in 1960 or later.Deciding when to claim Social Security is one of the most important and irreversible retirement decisions you'll make. The choice will affect your income for the rest of your life. Before deciding, consult your financial advisor and tax professional to ensure the strategy aligns with your overall retirement plan, health, and financial needs.
Source: https://www.ssa.gov/benefits/retirement/planner/delayret.html
1164455
CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
David P. McCabe, Nathaniel D. High, and Nicholas J. Over are Financial Planners with, and offer securities and investment advisory service through LPL Enterprise (LPLE), a Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.
LPLE and LPL Financial are not affiliated with Centuria Financial Group.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
Centuria Financial Group and LTM Marketing Solutions, LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Marketing Solutions, LLC, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.