Overview
- Schroders’ 2025 U.S. Retirement Survey reports 44% of non-retirees expect to file before full retirement age, while only 10% plan to wait until 70.
- The leading reasons for early claims include wanting immediate access to money (37%), fear benefits could run short (36%), and needing income to cover expenses (34%).
- Concerns about retirement income are widespread, with 87% at least somewhat concerned and respondents estimating they need about $5,032 per month to retire comfortably.
- The Social Security Administration projects the OASI trust fund will pay full benefits only through 2033, after which ongoing income would cover about 77% without new legislation.
- Suze Orman, writing for AARP, urges delaying to 70 for a guaranteed 8% annual increase after full retirement age, while a 2025 law adds a temporary $6,000 deduction for taxpayers 65+ through 2028.