Key Points
If you'll be at least 62 in 2026, it means you can claim Social Security this year.
It could pay to sit tight if you're still working and don't need the money.
Consider waiting if filing this year means signing up early and you don't have a lot of retirement savings.
- The $23,760 Social Security bonus most retirees completely overlook ›
The start of a new year might inspire you to make a list of financial tasks to tackle in 2026. And one of those tasks may be to sign up for Social Security benefits.
You can claim Social Security at any point once you turn 62. But just because you're eligible for Social Security in 2026 doesn't mean it automatically makes sense to file for benefits this year. Here are two reasons to consider holding off.
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1. You're still working and don't need the money
Once you turn 70, there's no financial incentive to delay your Social Security claim. Until that point, though, waiting to file means locking in a larger monthly benefit. So if you're still working and don't plan to stop in 2026, you may want to wait on signing up.
Of course, just because you're gainfully employed at the start of 2026 doesn't mean you're guaranteed to remain employed all year long. But if you're able to keep working, you might as well try to lock in larger Social Security checks for your retirement.
Also, if you haven't yet reached full retirement age, you'll be subject to an earnings test if you claim Social Security this year. And earning too much could result in having benefits withheld. Why worry about that if you don't have to?
2. You can't afford to sign up early because you don't have savings
If you won't be reaching full retirement age this year, that's another potential reason not to claim Social Security in 2026. Full retirement age is when you get your monthly benefits without a reduction.
Some people can afford reduced Social Security checks because they have enough savings to make up for it. But if you don't have a particularly large IRA or 401(k) balance, then you probably can't afford a hit to your monthly checks.
As it is, Social Security will replace only about 40% of your preretirement earnings if your salary is average. If you file early, you'll get even less replacement income, which could be a problem if you'll need that money to cover most of your basic retirement expenses.
In fact, if you don't have much of a nest egg built up and you're close to retirement age without much time to catch up, you may want to consider signing up for Social Security after full retirement age to get more money each month.
Before you claim Social Security in 2026, think about whether you need the money right away. Also, figure out if signing up this year means taking benefits early -- and if you can afford that lifelong hit.
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