3 Social Security Mistakes to Avoid in 2026

The nice thing about Social Security is that once you file for benefits, you can expect to receive a monthly payday for the rest of your life. And those benefits, combined with retirement savings, could make your senior years pretty comfortable.

If you're aiming to claim Social Security in 2026, it's important that you approach the process strategically. And part of that means avoiding these big mistakes.

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1. Claiming benefits early without understanding the consequences

If you'll be at least 62 in 2026, it means you're eligible to file for Social Security. But that doesn't necessarily mean you should sign up for Social Security right away.

If you don't wait until full retirement age to claim your benefits, they'll be reduced on a permanent basis. And you definitely shouldn't file for Social Security ahead of full retirement age until you run the numbers and see what sort of reduction you're looking at.

Let's say your full retirement age for Social Security is 67, at which point you can collect $2,000 a month. Let's also say you're thinking of claiming benefits at 64. If so, you're looking at about a 20% reduction in those monthly checks. So in this example, instead of $2,000 a month, you'd be in line for $1,600 a month instead.

Now that may or may not be a problem for you. Let's say that in addition to Social Security, you have a $2.4 million IRA or 401(k) balance to tap. In that case, because you may have a very nice amount of money coming out of your retirement savings, you may be able to afford a reduced Social Security benefit for life. But it's important to do some serious number crunching first to make sure.

2. Not coordinating your claim with your spouse

If you and your spouse both worked, you may each be entitled to Social Security benefits in retirement. But that doesn't mean you shouldn't talk through a filing strategy together rather than act independently.

It could make sense for one of you, for example, to claim Social Security in 2026 while the other delays their claim for larger monthly checks. Again, that decision should boil down to factors like your retirement income needs and the amount of money you can get out of your IRA or 401(k) plan each year. But it's important to have those discussions and coordinate your claims.

3. Delaying a spousal benefit claim past full retirement age

It may be that you never worked, or you don't have a substantial enough earnings history to qualify for Social Security benefits in retirement. If that's the case, you may be entitled to claim spousal benefits based on your husband or wife's earnings record.

It's smart to wait until your full retirement age to claim your spousal benefits from Social Security, since filing early will result in a smaller check each month. But you should also know that delaying a spousal benefit claim past full retirement age doesn't make any sense.

When you're claiming Social Security based on your own earnings record, you get credit for a delayed claim. But there's no option to grow a spousal benefit. So once you reach your full retirement age, you might as well sign up.

The more you know about Social Security, and the more you strategize (either individually or with a spouse), the better those benefits might serve you in retirement. Do your best to avoid these big mistakes if claiming Social Security is on your radar for 2026. If you get your filing age right, it could make for a more rewarding and financially stable retirement from start to finish.

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