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Social Security Cornerstone Guide

The Social Security Planning Guide

When and how you claim Social Security can change your lifetime benefits by tens of thousands of dollars. Here's the full picture.

Updated June 8, 2026 12 min readSocial Security
Original infographic in development: The Social Security Planning Guide

Social Security is the income foundation for most retirees, and the timing of your claim is one of the most consequential financial decisions you'll make.

This cornerstone guide explains how benefits are calculated, the trade-offs of claiming early or late, and how spousal and survivor benefits work.

How benefits are calculated

Chart: benefit by claiming age

Your earnings history, full retirement age, and the benefit formula.

Claiming early vs. delaying

How claiming at 62, full retirement age, or 70 changes your monthly amount.

Spousal and survivor benefits

How married couples can coordinate and protect a survivor.

Working while claiming

The earnings test and how earnings can affect early benefits.

Taxes on Social Security

How a portion of benefits can be taxable depending on your income.

This guide is for general educational purposes only and is not financial, tax, or legal advice. Tim Hartle is an independent insurance professional. Annuity guarantees are subject to the claims-paying ability of the issuing insurance company and are not FDIC insured. Rules and product features vary by situation and by state. Please consult a qualified advisor about your own circumstances.

Frequently Asked

What is full retirement age?

It's the age at which you receive your full Social Security benefit — between 66 and 67 depending on your birth year. Claiming earlier reduces it; delaying increases it.

Is it better to claim at 62 or wait?

Claiming early gives you smaller payments sooner; delaying gives you larger payments later. The best choice depends on your health, other income, and goals.

Are Social Security benefits taxed?

Depending on your total income, up to 85% of your benefits may be subject to federal income tax. Florida does not tax them at the state level.

Apply This to Your Own Plan

Schedule your complimentary, no-pressure Retirement Income Review with Tim. Call (727) 692-5866 or book below.

Annuities are insurance contracts. Guarantees, including guaranteed lifetime income benefits where available, are subject to the claims-paying ability of the issuing insurance company. Product features, fees, withdrawal restrictions, and surrender charges vary by contract.