A recent analysis suggests that while waiting until age 70 can boost monthly Social Security benefits by up to 77%, claiming earlier may be more advantageous for some retirees. For instance, a retiree with a shorter life expectancy who claims at 67 instead of 70 and dies at 80 could collect approximately $18,000 more in lifetime benefits. Additionally, drawing down investment portfolios for several years while delaying Social Security exposes retirees to sequence-of-returns risk, potentially shrinking late-retirement flexibility. For married couples, the timing of claims also impacts spousal benefits and overall household income needs.