The Financial Value of Delaying Social Security
Waiting to claim Social Security could be one of the most powerful — and overlooked — financial strategies for retirement
New research from the Retirement Income Institute shows that delaying benefits can significantly boost lifetime income, providing greater financial security, higher monthly payments, and a stronger foundation for retirement planning. Yet many Americans claim early, often leaving substantial guaranteed income on the table.
Delaying Social Security is one of the few risk-free strategies retirees can use to significantly increase lifetime income and protect against outliving savings.
In his new paper, Wade Pfau breaks down the real-world impact of delayed claiming, showing how each year of waiting can dramatically increase total retirement wealth. The findings reinforce the importance of reframing Social Security not just as a safety net, but as a strategic asset that can meaningfully improve retiree outcomes. Whether you’re planning for your own retirement or advising others, understanding the true value of waiting could make all the difference.