Suze Orman Says Claiming Social Security Early Could Hurt You: 4 Points to Consider Before Making Your Claim

In a blog post dated June 11, 2026, financial guru Suze Orman discusses a trend she's seen on social media. According to Orman, there's been chatter that people are better off claiming Social Security as early as possible -- at age 62 -- rather than waiting to claim larger benefits.

While there are valid reasons a person may decide to make an early claim, like a serious illness that will lead to a shortened life, here are four points she would like others to consider before making a final decision.

1. It's a 30% penalty you can never undo

Full retirement age (FRA) for those born in 1960 or later is 67, and it's when you're entitled to 100% of your Social Security benefit. If you choose to claim benefits at 62 instead, you receive just 70% of the amount you would have received at 67.

For example, a $2,000 benefit at FRA would be $1,400 at age 62.

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2. You may be thinking about break-even the wrong way

Early claimers talk about the "break-even age." They argue that if you begin collecting benefits at 62 instead of 67, you have years to bank or invest those payments. And, if you wait until age 67 to begin collecting, it will take until around age 79 to catch up with the total amount collected by the person who made their claim early.

Rather than thinking about waiting as a gamble, Orman suggests looking at waiting as insurance against the possibility that you'll live a long time. And if you do live a long time, there will still be bills to pay.

3. No protection from benefit cuts

One argument is that you should claim as early as possible because Social Security may not be able to pay full benefits after 2032 unless Congress acts. While Orman admits the fear is understandable, she doesn't believe it holds up to reason.

Imagine two people, each due a monthly Social Security benefit of $2,000 at age 67. Because one of them decided to claim at 62 instead, they're receiving 30% less, or $1,400 per month. Now, consider what would happen if Social Security were only able to pay 80% of benefits. While the early claimers' checks would be cut to $1,120 per month, the check for the person who waited would be $1,600.

Orman also reminds followers that this isn't the first time Congress has faced a shortage issue. In 1983, it developed a set of solutions to shore up the Social Security system without beneficiaries losing benefits.

4. Waiting may provide an important financial gift

If you're able to put off your claim until age 70, you'll receive the largest Social Security benefit you're eligible to have. This matters if you're married because when one spouse dies, the spouse who's left receives the larger of your two benefits.

Whether you're the one left or your partner, deciding to wait can be an important financial gift when it's needed most.

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