![\"A](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/04\/10-shutterstock_494089081.jpg\")
<\/p>\n <\/p>\n
\n \u00a9Shutterstock.com <\/p>\n
Commitment to Our Readers<\/p>\n
GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines<\/a> and our products and services review methodology<\/a>.<\/p>\n 20 Years Trusted by Social Security claiming decisions shape retirement income for decades, but generic advice ignores individual financial circumstances that determine optimal timing.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n When we asked ChatGPT for the best way to claim Social Security, it provided strategies for when to claim benefits, emphasizing that waiting until age 70 maximizes lifetime payments for most people. Anthony DeLuca, a CFP and CDFA who is an expert contributor at Annuity.org<\/a>, reviewed the AI\u2019s recommendations and identified critical gaps in the one-size-fits-all approach.<\/p>\n \u201cIt is not surprising that people are turning to ChatGPT to answer their financial questions<\/a>. I\u2019ll be honest with you; I lean on it to confirm ideas,\u201d DeLuca said. But he emphasized that ChatGPT is software that doesn\u2019t know what it doesn\u2019t know<\/a>.<\/p>\n<\/p>\n ChatGPT\u2019s Core Recommendation<\/p>\n The AI identified key Social Security ages: 62 as the earliest claiming age, 67 as full retirement age for many workers today and 70 as when maximum monthly benefits kick in. Benefits increase about 8% per year for every year delayed after full retirement age until 70, according to the Social Security Administration.<\/p>\n \u201cMost experts agree the strategy that maximizes lifetime benefits<\/a> is often waiting as long as possible (up to age 70),\u201d ChatGPT said.<\/p>\n The AI provided an example showing monthly benefits: roughly $1,400 at age 62, about $2,000 at age 67 and around $2,480 at age 70.<\/p>\n \u00a0<\/p>\n The Break-Even Analysis<\/p>\n ChatGPT calculated that the break-even point between claiming at 62 versus 70 falls around age 78 to 80. If you live longer than that, waiting typically pays off, according to the AI.<\/p>\n The AI offered rules of thumb: Claim earlier<\/a> if you need income immediately, have health issues shortening life expectancy or lack other retirement savings. Delay to 70 if you\u2019re healthy, expect to live into your 80s or want the largest lifetime benefit.<\/p>\n Where the Expert Agrees<\/p>\n DeLuca confirmed ChatGPT\u2019s information isn\u2019t incorrect. \u201cLargely, I agree with it,\u201d he said. The math on benefit increases and break-even ages holds up under standard assumptions.<\/p>\n His concern focused elsewhere. \u201cMy biggest issue is this: \u2018most experts agree the strategy that maximizes benefits is often waiting as long as possible (up to 70),’\u201d DeLuca said. These are blanket recommendations that don\u2019t consider one\u2019s specific financial plan, portfolio construction, risk management or current economic environment.<\/p>\n The Danger of Generic Advice<\/p>\n The AI provides accurate general information but can\u2019t factor in portfolio performance expectations, tax planning opportunities, asset location strategies or how claiming timing interacts with other retirement income sources.<\/p>\n ChatGPT presented claiming at 70 as longevity insurance that provides the largest possible monthly payment and bigger cost-of-living adjustments over time. DeLuca doesn\u2019t disagree with that characterization, but he wants people to understand it\u2019s one factor among many.<\/p>\n A client with substantial taxable brokerage accounts, traditional IRAs facing large required minimum distributions and good health might optimize their overall financial situation by claiming early and executing a sophisticated multiyear tax strategy. ChatGPT can\u2019t weigh those competing priorities.<\/p>\n The Bullish Market Scenario<\/p>\n DeLuca provided a specific example where claiming early makes more sense. Consider a client who is moderately aggressive by choice or necessity to meet certain retirement goals<\/a> during a bullish market.<\/p>\n \u201cThere is then an argument that one should pull their Social Security earlier than 70 and let their retirement assets grow in the market,\u201d he said. His firm\u2019s proprietary balanced models performed above 8% net of fees over the past 10 years. The S&P 500 returned over 14% over the past five years.<\/p>\n \u201cWouldn\u2019t a client be better off pulling early?\u201d DeLuca asked. The answer depends on individual circumstances ChatGPT can\u2019t evaluate.<\/p>\n The Roth Conversion Strategy<\/p>\n DeLuca offered another scenario where conventional wisdom breaks down. What if a client retires at 62? Should they wait until 70 and substantially deplete retirement assets over that eight-year window?<\/p>\n \u201cMaybe they should,\u201d DeLuca said. The reason might surprise people focused solely on maximizing Social Security. If clients have significant deferred assets, the drop in income during those eight years allows for Roth conversions that significantly lower RMDs later in life.<\/p>\n<\/p>\n![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon-20.svg?webp=1&quality=75\"){kind=icon}
<\/p>\n
Helping You Live Richer<\/p>\n![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon-experts-review.svg?webp=1&quality=75\"){kind=icon}
<\/p>\n![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon__trusted.svg?webp=1&quality=75\"){kind=icon}
<\/p>\n
Millions of Readers<\/p>\n