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Why so many Americans leave Social Security money on the table

Many Americans are claiming Social Security benefits before reaching full retirement age, a trend driven by financial concerns and differing retirement strategies. Schroders reports that 45% of people expect to claim early. While some advisors like Dave Ramsey encourage collecting at 62, other strategies suggest using 401(k) savings between ages 62 and 70 to secure higher monthly payouts, such as $6,200. This tension between immediate liquidity and maximizing long-term payouts leaves many retirees with lower lifetime benefits than if they had delayed their claims.

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  • ✓ Americans are claiming Social Security benefits early.
🛡️ Source Corroboration: 12 independent reporting domains (80% confidence) ⏱ Read time: ~2 min

What changed

Schroders data indicates 45% of individuals plan to claim benefits before their full retirement age.

Live updates

  1. Americans Increasingly Claim Social Security Early Despite Potential Losses

    Many Americans are claiming Social Security benefits before reaching full retirement age, a trend driven by financial concerns and differing retirement strategies. Schroders reports that 45% of people expect to claim early. While some advisors like Dave Ramsey encourage collecting at 62, other strategies suggest using 401(k) savings between ages 62 and 70 to secure higher monthly payouts, such as $6,200. This tension between immediate liquidity and maximizing long-term payouts leaves many retirees with lower lifetime benefits than if they had delayed their claims.

    Why it matters

    Claiming benefits early reduces the monthly payment amount for the duration of the recipient's life. This decision often stems from a fear of outliving available assets. The trend raises questions about the long-term sustainability of the Social Security fund.

    What is confirmed

    • Americans are claiming Social Security benefits early.

    Still unconfirmed

    • Non-retirees are experiencing growing concerns over outliving their assets.

    What to watch next

    • Data on the impact of early claiming on the Social Security fund's solvency
    • Updated 2026 guidelines on the optimal age to claim benefits
    Sources used for this update (13)
    1. Yahoo Finance — Why so many Americans leave Social Security money on the table
    2. USA Today — Americans are taking Social Security early. Will the fund run dry?
    3. Yahoo Finance — Here’s How Much Money the Average 65-Year-Old Leaves on the Table by Claiming Social Security Early
    4. en.as.com — Couples live on 401(k) savings from 62 to 70: Strategy unlocks $6,200 monthly Social Security payout
    5. AOL.com — Dave Ramsey Encourages Retirees To Collect Social Security at 62 - 7 Pros and Cons
    6. financial-planning.com — 45% expect to claim Social Security before full retirement age: Schroders
    7. HousingWire — Concerns over outliving assets grow among non-retirees
    8. AOL.com — Data Reveals This Is the Best Age to Claim Social Security in 2026
    9. The Daily Upside — Worth Waiting For? The Many Factors in Social Security Claiming
    10. www.cbsnews.com — Transcript: Iranian President Masoud Pezeshkian on "Face the Nation with Margaret Brennan"
    11. 247wallst.com — A Proposed $150 Million Drone Plant Promises $100,000 Jobs. A Worker Hired at 63 Gets One Last Calendar Year for the Bigger 401(k) Catch-Up
    12. note.com — Do You Need a Hardware Wallet? 3 Criteria for Deciding Based on Holdings and More
    confidence 80%
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