Schroders Survey Finds Most Americans Plan to Claim Social Security Early

A new retirement survey conducted by Schroders found that only 10% of non-retired Americans plan to wait until age 70 to collect the maximum Social Security benefit. The most common age for claiming the benefit is 62, the first year it is available to most retirees. Reasons for claiming early include the need for regular income and the desire for immediate access to funds.

The findings highlight a significant divergence between expert advice, which suggests waiting until age 70 maximizes benefits, and the actual planning behavior of Americans. This trend reflects how financial concerns influence long-term retirement strategies.