Should you take Social Security at 62? Consider these 4 factors - USA Today

What the report says

USA Today examined why many Americans claim Social Security retirement benefits at 62, the earliest age available for most people, even though waiting can produce larger monthly payments. The report, published July 19, 2026, says age 62 remains the most common claiming point, while benefits rise for each year a person delays up to age 70. It cites research estimating that a typical retiree who claims before 70 may give up $182,370 in potential lifetime Social Security income.

The article lays out four factors that can make early claiming appealing or understandable. One is immediate financial need: people who are no longer working and lack other income may need the check to avoid debt. Another is health and life expectancy. USA Today notes that the break-even point between claiming at 62 and 70 is roughly around age 80, meaning people with serious health concerns may view the calculation differently.

A third factor is anxiety over Social Security’s finances. The report says the program faces a projected shortfall as soon as 2032, with possible benefit reductions if Congress does not act. However, experts quoted by USA Today said cuts are considered less likely for people already retired or near retirement, because lawmakers have political and policy incentives to protect those beneficiaries.

The fourth consideration is whether to claim early and invest the payments. USA Today reports that this could work in some market scenarios, but experts warned it carries risk because Social Security provides a comparatively secure, inflation-adjusted income stream. The broader takeaway is that the best claiming age depends on health, finances, risk tolerance and household needs, and the article points readers toward individualized Social Security planning tools.