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How to avoid this critical Social Security mistake
The Street
Follow
3/27/2025
One Social Security mistake is silently draining retirement accounts—here's what you need to know.
Category
🥇
Sports
Transcript
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00:00
One of the big mistakes that people make with Social Security is to claim early.
00:04
The earliest age at which you can claim Social Security is age 62.
00:08
And that's when you'll get the reduced benefit.
00:12
And that reduced benefit is for the rest of your life.
00:15
And so I think oftentimes people say, well, I'm going to claim Social Security at age 62
00:19
because it's my money or Social Security is going away.
00:23
So I might as well claim it while I can.
00:25
And those are actually the wrong reasons to claim Social Security.
00:28
One of the things that we know in this country is that about 10%
00:32
of widows in this country live in poverty.
00:35
And one way to sort of avoid that from happening is to make sure that you're
00:39
claiming Social Security at the latest age possible that makes sense for you and your spouse.
00:45
So that if you should pass on, the benefit that your survivor receives is the highest possible.
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