Many Americans Planned Early Social Security Claims

Nearly half of surveyed investors intend to file for Social Security before age 67 despite potential monthly payment reductions.

Updated on Sept. 19, 2026 in Retirement Planning

Isometric editorial illustration of a brass hourglass on a concrete plinth, symbolizing time-sensitive retirement financial planning. — Nearly half of surveyed U.S. investors intend to file for Social Security before age 67, despite the resulting reduction in monthly benefits. AI Illustration. Upload story photo >

Live Poll

Do you believe it is better to claim Social Security benefits early for immediate cash?

Forty-five percent of Americans surveyed in early 2026 plan to claim Social Security benefits before reaching age 67. This decision persists even though 69% of participants recognize that early filing results in lower monthly payouts.

Why it matters

Claiming benefits early can reduce monthly checks by 30% for those who start at age 62 instead of age 67. Many non-retired Americans feel pressured to file due to immediate income needs or fears that the Social Security program could eventually be depleted.

Monthly benefits are 30% smaller at age 62 compared to age 67, while benefits grow by 8% for each year waited beyond 67. Investors surveyed report needing $5,094 per month to maintain a comfortable retirement.

The players

Schroders

An investment management firm that provides retirement planning research and asset management services.

The details

The decision to file early is often driven by a need for immediate regular income or concerns about future program stability. Because monthly benefits are permanently reduced for early claims, many retirees must fill the gap with personal savings, 401(k) plans, or other investment income. Despite these plans, 64% of current retirees expressed regret that they did not plan more thoroughly for these income requirements during their working years.

March and April 2026: Schroders conducted the U.S. Retirement Survey.
September 18, 2026: Schroders released the findings from the survey.

Money Landscape

The Social Security benefit adjustment schedule is designed to reward delayed claiming with significantly higher monthly payments. This survey shows that individual retirement planning often struggles to balance these long-term gains against immediate household cash flow needs.

If you are planning your retirement, review how your chosen claim age impacts your projected monthly benefit compared to your target income of $5,094. Consider discussing your supplemental savings strategy with a qualified financial professional to ensure you can support yourself if you choose to retire early.

The takeaway

Retiring without a clear supplemental income strategy can create significant budget gaps, as most investors find the lack of regular paychecks concerning. To prepare, review your estimated Social Security benefits and calculate how much you need to bridge the gap between those payments and your desired monthly retirement income.