One of the trickiest financial decisions you might ever have to make is figuring out when to claim Social Security. Once you turn 62, those benefits are yours for the taking. But your filing age will help determine how much those monthly checks amount to.
If you'll be 62 or older in 2026, it means next year could be the year you claim Social Security. But is that a good idea? It depends on your circumstances. Here are three great reasons to consider filing for benefits in 2026.
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1. You're turning 70
Even though you can claim Social Security starting at age 62, you won't get your monthly benefits without a reduction until you reach full retirement age. Full retirement age is 67 for anyone born in 1960 or later.
Social Security will also reward you with an 8% boost to your monthly benefits for each year you delay your claim past full retirement age. But that incentive runs out at age 70.
What this means is that if you're turning 70 in 2026, you should absolutely claim Social Security. Waiting won't give you more money. If anything, it could cause you to lose money. And if you turned 70 this year and didn't file for Social Security, stop what you're doing and claim benefits right away.
2. You've reached the point where your savings can cover all of your bills
If you won't be reaching full retirement age in 2026, you may be hesitant to claim Social Security, since it will mean slashing your benefits for life. But if that money could do something meaningful for you, and you can afford the hit, then you may want to file next year even if it results in smaller monthly checks during retirement.
You can especially feel comfortable claiming Social Security early in 2026 if your retirement savings have reached the point where they can cover all of your living expenses. In that scenario, Social Security is just extra money for you to spend. And if getting that money sooner allows you to meet certain goals -- for example, buying the beach house you've always wanted before prices go up or taking some amazing trips -- then you shouldn't hesitate to go after it.
Let's say you expect your bills to come to $5,000 a month in retirement, including taxes, and that you've saved $2 million in your IRA or 401(k). If you use the 4% rule to dictate how much you take in withdrawals, that gives you about $80,000 a year, which is well more than what you need. In that case, you shouldn't hesitate to claim Social Security early if doing so enhances your life in the near term.
3. Your job is hurting your health in a serious way
If you don't have a ton of retirement savings, it could make sense to try to push yourself to hold off on Social Security until full retirement age, or even later. However, if you're stuck in a job that's hurting your mental or physical health, and claiming Social Security in 2026 allows you to retire early, it may be worth it.
It's true that filing for benefits early results in lower monthly checks for life. On the other hand, if your job is impacting your health in a negative way, you run the risk of it shortening your life. And that's not a risk worth taking.
Is 2026 the year you'll take Social Security? It all depends on your income needs, goals, and personal circumstances. But if any of these situations apply to you, 2026 could end up being the right time to file.
