Many people plan to claim Social Security at age 62 as soon as they’re eligible. Wanting to start collecting an extra source of income is understandable with rising living costs on everyday expenses, including groceries, utilities, health care, and more.
Locking in benefits as soon as possible can even feel reassuring with ongoing headlines about the program’s long-term funding challenges. But the timing of when you file for Social Security can shape your retirement income for decades. In some situations, claiming Social Security in 2026 may limit your flexibility or reduce your lifetime benefits more than you expect.
Here are five common signs that filing in 2026 might not be the best move for you.
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1. You plan to keep working in 2026
If you haven’t reached full retirement age and plan to continue working, claiming Social Security may be less beneficial than it appears. In 2026, you’ll lose $1 for every $2 you earn above the annual limit of $24,480 ($65,160 in the year you reach full retirement age). While those withheld benefits aren’t permanently lost, the reduction makes filing early even less appealing.
For example, if you’re earning a steady income and lose a portion of your monthly benefit due to earnings limits, you may not gain much immediate cash flow. In that case, waiting until your earnings decline below the earnings limit or until you reach full retirement age can boost your income throughout your retirement.
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2. You’re in good health and expect a longer retirement
Your health and family longevity matter when deciding when to claim. Social Security benefits increase for each month you delay past full retirement age, up to age 70. If you expect to live well into your 80s or beyond, a higher monthly benefit can significantly affect your lifetime income.
An analysis of claiming Social Security at 62 versus full retirement age found that you’re better off waiting if you live past 78 years and 8 months. You’ll break even on waiting until age 70 if you live past age 80. In both scenarios, you’ll receive significantly larger checks for the rest of your life if you can delay filing for Social Security for a few years.
3. Your spouse or survivor benefits are important
If you’re married, when you claim Social Security benefits may affect more than just your own monthly check. Survivor benefits are based on the benefit amount you were receiving (or eligible to receive) at the time of death. Claiming early can permanently reduce what a surviving spouse may receive later.
For couples where one spouse earned significantly more, this can be a meaningful issue. Waiting to claim can increase long-term household security for both you and your spouse, especially if one of you is expected to outlive the other.
Surviving spouses with a similar income history may be able to use advanced Social Security strategies to maximize benefits by switching between their benefits and yours. Claiming at age 62 could reduce this benefit and limit their options.
4. Taxes could reduce the value of your benefits
Social Security benefits can be taxable depending on your total income. If you’re still earning wages, drawing from retirement accounts, or receiving taxable pension income, up to 85% of your benefits may be subject to federal taxes.
Having a high income in 2026 is a strong sign that you shouldn’t claim Social Security benefits if you’ll end up paying a lot of taxes on that money. You don’t want to end up in a higher tax bracket and reduce the net value of your benefits when delaying could yield bigger checks down the road. In some cases, waiting until other income sources decrease can make Social Security more tax-efficient.
5. You can cover expenses without Social Security
Seniors with a large nest egg, part-time income, or enough pension payments to cover expenses are in an excellent position. If you don’t need the money from Social Security to pay your bills, you have the flexibility to decide when to start collecting benefits. Delaying Social Security benefits acts as a form of longevity protection by increasing guaranteed income later in life.
Larger Social Security checks also reduce your reliance on withdrawals from retirement accounts, which can extend the life of those investments. Retirees in this situation can leave their investments focused on growth rather than income to secure their retirement and increase the potential of a larger estate for their heirs.
Bottom line
Claiming Social Security is one of the most personal financial decisions you’ll make in retirement. There’s no universal “right” age, and delaying isn’t always better.
Understanding these signs that you shouldn’t claim Social Security in 2026 can help you make an informed decision unique to you. By recognizing how work, health, taxes, and household benefits interact, you give yourself more control over how Social Security fits into your overall retirement plan.
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