“Americans can claim Social Security as early as 62, but doing so cuts their benefit by up to 30% versus those claiming at 67.1 About 26% of the 3.25 million people who first claimed benefits in 2024 did so at 62.2
Americans typically expect to retire at 65, but the median actual retirement age is 62, according to the Employee Benefit Research Institute’s (EBRI) 2026 Retirement Confidence Survey.3