When Should You Claim Social Security?
A clearer way to make your Social Security decision.
Your decision involves more than a bigger monthly check. Our free Social Security Decision Worksheet helps you compare your options and consider how your health, investments, spouse, and taxes fit into the picture.
This worksheet is perfect for you if you…
Are approaching retirement or recently retired and deciding when to claim Social Security
Have retirement savings and want to weigh using your portfolio against claiming benefits sooner
Have heard you should wait until 70 but want to understand whether that fits your situation
Want to consider your health, spouse’s income, and tax-planning opportunities before deciding
With the Social Security Decision Worksheet, you’ll get:
A side-by-side worksheet to compare estimated benefits at 62, full retirement age, and 70
A clearer understanding of break-even considerations, health, longevity, and investment trade-offs
An introduction to how delaying benefits may create more room for Roth conversion planning
Simple self-assessments to organize your priorities and prepare for a more informed conversation
Get your free Social Security Decision Worksheet
Hi there, I’m Nathan Lee, CFP®
I founded Servet Wealth Management to help individuals and families make thoughtful financial decisions as they approach and enter retirement.
One question I hear frequently is:
Should I claim Social Security now, or wait for a larger benefit?
The answer depends on much more than your monthly benefit.
That’s why I created this worksheet: to help you weigh your claiming options alongside your health, portfolio, spouse’s benefit, and future taxes. It’s a starting point for a decision that fits your retirement.
Questions you may have
How long will this take?
Set aside about 15 minutes to work through the comparisons and self-assessments.
Have your my Social Security statement handy, including your estimated benefit at full retirement age. If you’re married, gather your spouse’s statement too.
Do I need to be retired to use this worksheet?
No. It’s designed for people approaching retirement as well as those who have retired and haven’t yet claimed their benefits.
Thinking through these choices early gives you time to coordinate your income, investments, and tax planning.
Will this worksheet tell me exactly when to claim?
It helps you compare the reasons for claiming earlier or later and identify what matters most to you. It does not provide a personalized claiming recommendation.
Your next step is to consider how these factors work together within your full retirement plan.
What’s Inside
Compare Your Benefits
Record estimated monthly and annual benefits at different claiming ages.
Break-Even Considerations
Explore how longevity and investment returns can influence the comparison.
The Case for Delaying
Consider a larger benefit and potential tax-planning opportunities.
The Case for Claiming Early
Weigh health, portfolio withdrawals, and your personal priorities.
Your Decision Checklist
Organize your thinking and identify questions to discuss with your advisor.
Get your free Social Security Decision Worksheet
Created by Nathan Lee, CFP®
I read every email and would love to hear if this worksheet helped you.
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