Understanding When to Apply for Social Security Benefits

Reviewed by: Mark Zagurski, CLU®, ChFC®, CMFC® and CRPC®

Summary: Knowing when to apply for Social Security helps ensure your benefits begin when expected and reduces confusion around the application process. The age you apply for Social Security can influence how much you receive each month and how your retirement income strategy unfolds over time.

Key takeaways

• You can generally apply for Social Security up to four months before you want benefits to begin
• Most people become eligible to claim retirement benefits starting at age 62
• Your claiming age affects your monthly benefit amount for life
• Your first Social Security payment typically arrives the month after your benefits begin
• Applying online is often the fastest and most convenient way to file
• Planning ahead can help prevent delays in receiving benefits

Applying Social Security is a key step in moving from retirement planning to turning your savings and benefits into reliable retirement income plan. While the application itself is relatively straightforward, many people are unsure how early they should apply or how the timing of their decision affects long-term income.

This uncertainty is common because retirement itself rarely unfolds exactly as planned. According to a recent Mutual of Omaha Retirement Study, 71% of retired consumers report retiring between ages 60 and 70, yet just over half say they actually retired earlier than expected.*

Mark Zagurski, Mutual of Omaha Advisors Director of Strategy and Operations and host of the Make it Personal Podcast, emphasizes, “Social Security is complicated. Retirement planning is complicated, but solvable with the help of a financial adviser.”

When should you apply for Social Security benefits?

In most cases, you can apply for Social Security up to four months before the month you want your benefits to begin.

For example, if you plan to start receiving benefits in June, you may be able to submit your application as early as February.

Applying ahead of time gives the Social Security Administration time to review your application and confirm eligibility, which can help reduce the risk of delays in receiving your first payment.

Many people begin thinking about this step when they approach key claiming ages such as:

• Age 62 (the earliest age you can claim benefits)
• Full retirement age (typically around age 66 to 67 depending on birth year)
• Age 70 (when delayed benefits stop increasing)

How long does it take to receive your first Social Security payment?

After your application is approved, your first payment typically arrives the month after your benefits begin.

For example:

• If your benefits begin in June
• Your first payment would typically arrive in July

This timing sometimes surprises people because Social Security benefits are generally paid one month behind the benefit month.

Understanding this timeline is important because many retirees depend on Social Security as a foundational source of income. In fact, 96% of retirees report receiving Social Security income during retirement*.

Choosing when to claim Social Security

While the application timeline determines when benefits begin, the age you choose to claim benefits determines how much income you receive.

“Taking benefits at age 62, at full retirement age, or waiting until age 70 carries unique risks and rewards,” Zagurski explains. The age you choose affects how much you receive each month for the rest of your life.

Claiming Social Security at age 62

Age 62 is the earliest age you can claim Social Security retirement benefits. Starting benefits early provides income sooner, but your monthly benefit will be permanently reduced compared to claiming later. For some people, early claiming can still make sense.

“Doing so ensures immediate income and reduces the risk of waiting, which can be especially important for retirees facing financial uncertainty, health issues or a shorter life expectancy,” Zagurski adds.

Claiming Social Security at full retirement age

Full retirement age (often around 66 to 67 depending on birth year) is when you are eligible to receive 100% of your scheduled Social Security benefit.

This option is often considered a middle ground between starting benefits early and waiting longer for higher payments.

“Waiting until full retirement age is like sticking to the traditional game plan,” Zagurski says. “You’re making solid, steady moves with a reasonable amount of risks and rewards.”

Claiming Social Security at age 70

Waiting to claim benefits beyond full retirement age increases your monthly payment.

“Each year you delay beyond full retirement age increases your monthly benefit by 8%, resulting in a 24 to 32% higher payout at age 70,” Zagurski says.

For retirees who have other income sources and can afford to delay, this increase can provide higher guaranteed income later in retirement.

Why your Social Security decision matters long term

“The benefit amount you first receive sets the base for the amount you’ll receive for the rest of your life,” Zagurski explains. This matters because retirees often face several long-term financial risks.

“Among your biggest retirement risks are longevity and inflation,” he adds. “Social Security directly addresses both.”

Because benefits may last for decades, choosing when to claim is one of the most important financial decisions in retirement.

How Social Security fits into your broader retirement plan

For many retirees, Social Security is just one piece of a broader retirement income strategy.

In fact, 65% of those fully retired and 68% of those near retirement expect to have three or more income sources during retirement.*

This is one reason Social Security decisions rarely happen in isolation. They often involve coordinating benefits with:

• Retirement account withdrawals
• Personal savings
• Spousal benefits
• Part-time work or other income sources

Working with a financial professional to understand how these pieces work together can help create a more stable retirement income plan and provide greater clarity about when you may be ready to retire.

Planning your next step

Deciding when to apply for Social Security is both a practical step and a strategic one. The timing of your application affects when payments begin, while the age you choose to claim affects your lifetime income.

“The good news is that developing a plan to maximize Social Security is solvable with the help of a financial professional,” Zagurski explains.

If you’re approaching retirement and evaluating when to begin Social Security benefits, speaking with a financial professional can help you understand how the decision fits within your broader retirement income strategy.

 

Get guidance on your Social Security decision

Talk with a Mutual of Omaha financial professional to review how Social Security may fit into your long-term retirement plan. Not sure how long your money will last in retirement? Use our calculator to see how you’re tracking.

How long will my money last?

 

Frequently asked questions about applying for Social Security

How far in advance should you apply for Social Security?

You can generally apply for Social Security retirement benefits up to four months before you want payments to begin. Applying within this timeframe helps ensure your application is processed before your desired start date.

Is it better to take Social Security at age 67 or 70?

It depends on your financial situation, health and retirement goals. Claiming at full retirement age (typically around 66 to 67, depending on your birth year) allows you to receive 100% of your scheduled benefit. Waiting until age 70 increases your monthly benefit because Social Security provides delayed retirement credits for each year you wait. At Mutual of Omaha, our financial professionals have tools available to help you determine which age makes the most sense for you, based on your specific situation.

Is it better to apply for Social Security online or in person?

Many people choose to apply online because it is convenient and often faster. However, applying by phone or in person may be helpful if you prefer assistance during the process.

Does Social Security pay a month ahead or behind?

Social Security benefits are generally paid one month behind the benefit month. For example, benefits earned in June are typically paid in July.

What is one of the biggest mistakes people make regarding Social Security?

One common mistake is focusing only on the earliest age you can claim benefits without considering how that decision affects lifetime income. Because the benefit amount you first receive becomes the base for future payments, understanding your options before applying can help support more informed retirement planning decisions.

How much can I earn while on Social Security in 2026?

If you claim Social Security before reaching full retirement age and continue working, your benefits may be temporarily reduced if your earnings exceed the annual earnings limit set by the Social Security Administration. Once you reach full retirement age, this earnings limit no longer applies and you can earn any amount without reducing your benefits.

Is it better to start Social Security in December or January?

In most cases, the month you start benefits does not significantly change the amount you receive. However, some people consider starting benefits in January because it aligns with a new tax year and may simplify income planning.

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Reviewed by: Mark Zagurski, CLU®, ChFC®, CMFC® and CRPC®

Mark is Mutual of Omaha Advisors’ Director of Strategy & Communications. With more than 30 years of experience, he has worked extensively in advisor development, strategy, and communications, focusing on helping advisors and their clients make informed financial decisions. He is also the host of the Mutual of Omaha Advisors podcast, “Make it Personal,” which explores personal finance and strategies to help you take control of your money and future.

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Sources:

*Mutual of Omaha worked with research vendor, quantilope, to conduct research related to Decumulation – the strategic drawdown of assets during retirement years. This research had a sample size of 496 respondents aged 50+ who were already retired (n=327) or nearing retirement (n=169) within the next 10 years. Respondents who stated they did not have at least some assets to draw down during retirement were excluded from the survey. The research was conducted in a 10-minute online survey from October 6-15, 2025. All data included in this report are based on Mutual of Omaha proprietary research unless otherwise noted.

Disclosures:

Registered Representatives offer securities through Mutual of Omaha Investor Services, Inc., Member FINRA/SIPC. Investment Advisor Representatives offer advisory services through Mutual of Omaha Investor Services, Inc. Mutual of Omaha Advisors is a division of Mutual of Omaha Insurance Company.

All investing involves risk, including the possible loss of principal, and there can be no assurance that any investment strategy will be successful.

Mutual of Omaha and its representatives do not provide tax and/or legal advice, and the information provided herein is general in nature and should not be considered tax and/or legal advice.

Not all Mutual of Omaha agents are registered representatives or financial advisors.

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