- - The Social Security Advice Most Middle-Class Retirees Wish They’d Ignored

David MainaJanuary 2, 2026 at 4:50 PM

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Advice to claim Social Security as early as possible often sounds reasonable, especially when the pressure to replace a paycheck is high.

For many middle-class retirees, though, that choice ended up being costly, and the impact often became clear only years later when smaller monthly payments began to limit their options.

Below, we break down the Social Security decisions many middle-class retirees now regret, so you can make the right moves and protect your long-term retirement income.

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"Claim Social Security as soon as you're eligible"

Claiming Social Security at 62 can feel like a relief, especially if money is tight or health feels uncertain. But that choice comes with a lasting cost.

According to the Social Security Administration (SSA), benefits claimed at 62 are about 30% lower than they would be at full retirement age, and that reduction is permanent. In contrast, someone who waits until full retirement age gets a larger check every month, and delaying even longer can increase it further.

Many retirees only see the cost in hindsight. About one in five retirees in a National Bureau of Economic Research study said they would have delayed claiming if they could do it over again. Short-term cash needs or fear of missing out often drove the decision, and the smaller check stayed with them for decades.

Put simply, claiming early can ease a short-term squeeze, but it can also lock in a smaller check for the rest of your life.

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"Waiting won't matter if you don't live that long anyway"

Studies from the Boston College Center for Retirement Research show that adults in their mid-50s through early 70s tend to be pessimistic about how long they will live. Many base their expectations on a parent's lifespan or a health scare, rather than on actual survival data.

That mindset often leads to a familiar conclusion. People assume they will not live past their mid-70s, then claim Social Security early and lock in smaller monthly checks for life.

Later, reality sets in. Research by Hurwitz and Mitchell found that retirees who regretted claiming early often shared one thing in common: they underestimated their longevity. People who expected shorter lives claimed sooner, then ended up needing those reduced benefits for many more years than planned.

Not surprisingly, the study also found that people with more realistic longevity expectations were far less likely to regret their financial choices.

This matters because Social Security is, at its core, longevity insurance. It is one of the few sources of retirement income you cannot outlive. Benefits are adjusted for inflation and continue for as long as you live, including recent cost-of-living (COLA) increases such as the 2.8% adjustment applied to benefits.

Delaying your claim increases the size of that guaranteed, inflation-adjusted paycheck later in life. Claiming early, on the other hand, gives up much of that value for decades.

"If money is tight now, taking benefits early makes sense"

Surveys show that retirees often say they claimed early simply to get by. One National Bureau of Economic Research study found that 52% of retirees regretted not saving more overall.

Among those who felt unprepared, the reasons were revealing. Nearly three in ten said they were living paycheck to paycheck, and more than a quarter admitted they didn't plan ahead.

To put it simply, when bills pile up, Social Security can feel like the only available relief. But over time, that lower income can force tougher trade-offs, from cutting back on essentials to taking on part-time work later than expected.

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"There's no harm in retiring early — you can always adjust later"

The push to retire early often sounds harmless, but for many people, it leads to an early Social Security claim by default.

If you stop working at 62, you still need income. For most households, Social Security becomes the fastest option, which usually means accepting a permanently reduced monthly check.

Looking back, many retirees say they wish they had built a short-term bridge instead. Working part-time or drawing from savings could have helped them delay claiming and secure a larger benefit later.

In a poll by Business Insider, dozens of respondents said they retired too early without enough savings. Some said that even though they retired at 65, they wished they had waited until 70 to build savings and feel more financially secure.

The point is not that everyone should work as long as possible. It is that leaving the workforce before your finances are ready can quietly push you into an early Social Security claim, with consequences that last the rest of your life.

Bottom line

Much of the Social Security advice that retirees later regret shares the same blind spots. It ignores how long retirement can last and downplays Social Security, which is one of the few income sources that pays for life and keeps up with inflation.

Claiming early may still make sense in some situations. But if you live a long life, waiting to claim increases the guaranteed income you cannot outlive. Knowing this early can help you avoid running out of money in retirement and live with your decision years down the road.

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Source: “AOL Money”