Taking Social Security early isn’t always a mistake. For some people, it’s not just reasonable—it’s the smartest move they can make. But deciding when to claim your benefits is personal. It depends on your health, income needs, and what you want your retirement to look like.
Here are five common, real-world reasons people choose to take Social Security early—and what to keep in mind if you’re considering it too.
1. Health or Life Expectancy Concerns
One of the strongest reasons to take Social Security early is if you don’t expect to live well into your 80s or 90s. While no one can predict the future, personal health history, family longevity, or chronic conditions can help guide your decision.
Social Security is designed so that lifetime benefits are roughly equal whether you claim early or wait. But that’s based on the average lifespan. If you think you may not reach that average, starting early could mean you actually collect more than you would if you waited until your Full Retirement Age (FRA). Your FRA depends on when you were born. If you were born between 1943 and 1954, your FRA is 66. For people born between 1955 and 1959, it gradually increases, adding 2 months for each year. If you were born in 1960 or later, your FRA is 67.)
For example, someone who starts benefits at 62 might receive $1,500 per month instead of the $2,000 they’d get at full retirement age. But if they only expect to live to 75, they may still come out ahead.
2. You Need the Income for an Early Retirement (by Choice or Forced)
A Forced Early Retirement
Not everyone retires on their own terms. Some are forced to leave work due to layoffs, caregiving responsibilities, or physical limitations. For those without enough savings, Social Security can be the safety net that keeps things afloat.
You might have seen people say, “he forced me to take Social Security at 62,” referring to a partner, employer, or even a medical condition that left no other option. While early claiming results in a permanent reduction, for many, it’s the only reliable income available.
An Early Retirement by Choice
Maybe you’ve had enough of the 9-to-5 grind. You’re ready to leave work behind, and you’ve run the numbers on what you need to live simply. If you’re confident your spending needs are modest and your retirement savings can carry you, claiming early might support the lifestyle you want now.
Some people retire early and plan to live on a mix of part-time work, modest withdrawals, and Social Security. Others simply say, “I don’t want to wait until I’m 70 to enjoy my time.”
Starting Social Security Before Your FRA is a Trade Off
Whether you are forced into an early retirement or jumping into it with joy, the key is to understand the tradeoffs of starting Social Security early. That early payout check can bring peace of mind, but it will reduce your benefit by as much as 30% compared to waiting.
If you take benefits before full retirement age and still work, your benefits may be reduced temporarily. That’s called an SS reduction, and it’s based on how much you earn.
Need the income? Here are some alternatives to starting Social Security early
Part-time work (especially in a job you enjoy) is a great solution for many who want to retire early but can’t do so unless they start Social Security before their full retirement age. And, if you own your home, downsizing and releasing equity to live off might be a better financial decision than starting Social Security early.
3. You Want to Preserve Other Assets
Claiming Social Security early can let you delay drawing down investments or retirement accounts, giving those assets more time to grow. This can be part of a tax-efficient withdrawal strategy, especially if your investments are generating returns above the “break-even” point for delaying benefits.
4. You’re the Lower-Earning Spouse in a Couple
In a two-earner household, it can make sense for the lower-earning spouse to start benefits early, especially if the higher earner delays to maximize their benefit. That’s because survivor benefits are based on the higher earner’s benefit amount. So, the lower earner’s decision has less long-term financial impact, and starting early can provide useful cash flow while allowing the higher benefit to grow.
This strategy can also help couples smooth income across retirement years and avoid unnecessary withdrawals from investment accounts, all while preserving the larger Social Security benefit for the later years.
5. You Have Dependent Children
If you have dependent children under age 18 (or under 19 and still in high school), claiming Social Security early can unlock additional family benefits. These child benefits can provide up to 50% of your full retirement benefit per child—which can add meaningful income during a critical phase of your family’s life.
This strategy can be especially valuable for families where a parent had children later in life or is supporting grandchildren or disabled dependents. Even though your own monthly benefit may be reduced by claiming early, the combined household income may be significantly higher thanks to the dependents’ benefits.
Important note: These benefits are only available once you start claiming your own retirement benefit, so starting early may be the key to accessing them at all.
Why Take Social Security Early? It’s Not Always a Mistake
There’s a lot of noise around this decision. Some articles make it seem like anyone who takes Social Security early is giving up “free money.” But your circumstances matter.
If you’re asking “should I draw Social Security early” or “should I collect Social Security early,” here’s what we suggest: don’t make the decision in isolation. Run the numbers, look at your entire income picture, and consider your goals.
The Boldin Planner helps you model different claiming strategies—whether you want to retire at 70, leave the workforce at 62, or find a middle ground. You’ll see how those choices affect your income, taxes, and future spending power.
Real-World Example: Planning a Balanced Retirement
Diane left work at 63 to care for her husband, who had early-onset Parkinson’s. She wasn’t ready, financially or emotionally. But taking Social Security early gave her a sense of stability.
Later, when her caregiving ended, she picked up part-time work and reduced her withdrawals from savings. With help from a retirement planner, she created a long-term income plan that worked for her.
She didn’t regret taking benefits early, because it helped her when she needed it most.
What to Watch Out for If You Take Social Security Early
Even if it’s the right move, early claiming comes with tradeoffs. Your monthly benefit will be permanently lower. If you’re married, it can also affect survivor benefits. And if you’re still working, that income may reduce your check temporarily.
That’s why it’s important to coordinate claiming with your broader financial plan.
To learn more about the potential downsides, visit our article on retiring at 62 and how to avoid relying too heavily on Social Security in your retirement plan.
FAQs About Reasons to Take Social Security Early
A: Health issues, relationships (married or a parent of dependent children), income needs, and limited work opportunities are the most common reasons people claim benefits before full retirement age.
A: If you need the money now or don’t expect to live into your 80s or 90s, early claiming can make sense.
A: You can, but your benefit may be temporarily reduced by the earnings limit. After full retirement age, this reduction goes away.
A: Maybe. It depends on your savings, expected expenses, and health. Use a retirement planner to explore your options.
A: Your check is permanently reduced. However, the tradeoff might be worth it if you need income sooner or don’t expect a long retirement.