WSJ Your Money Briefing
Americans Are Claiming Their Social Security Benefits Earlier
May 12, 2025
Heightened anxiety over Social Security has Americans rushing to claim benefits earlier than expected. Concerns about fraud and operational issues are eroding public trust, creating a sense of urgency. Many seniors are driven by fears of financial instability and the program's uncertain future. This trend could have lasting implications for retirement income and surviving spouses, prompting a complex decision-making process for those opting to claim early.
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Quick takeaways
- Over 75% of U.S. adults express heightened concern for Social Security's future, prompting many to claim benefits earlier than intended.
- Financial advisors advocate delaying Social Security claims for increased lifetime income, yet anxiety from media and political rhetoric drives earlier claims.
Deep dives
Concerns about Social Security's Stability
A significant portion of U.S. adults, over 75%, express high levels of concern regarding the future of Social Security, marking a peak not seen in 13 years. This anxiety often leads individuals to claim their benefits earlier than they originally intended, which can result in lower lifetime income. The financial precariousness of the Social Security Trust Fund is highlighted by projections indicating that it could be depleted in about eight years due to an aging population and decreased contributions. Such fears are exacerbated by media coverage and political rhetoric surrounding potential cuts and fraud in the system, mixed with growing frustrations over accessibility issues within the program.
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