A growing number of retirees are opting to file for Social Security benefits earlier than the full retirement age. This trend can be attributed to various factors, including financial necessity, changes in employment status, and evolving perceptions about the program. For many, the decision to file early is driven by immediate financial needs or uncertainty about future economic stability. Additionally, some retirees may choose to file early due to health concerns or a desire to enjoy benefits while they are still physically able. Despite the reduction in monthly benefits when filing early, the perceived advantage of receiving payments sooner outweighs the potential long-term gains for these individuals.
— new from The New York Times