3 Social Security Mistakes to Avoid in 2026

Core Points - The article emphasizes the importance of strategically claiming Social Security benefits in 2026 to avoid significant financial mistakes [1] Group 1: Claiming Benefits - Claiming benefits early without understanding the consequences can lead to a permanent reduction in monthly payments, which could be as much as 20% if claimed at age 64 instead of the full retirement age of 67 [3][4] - Individuals with substantial retirement savings, such as a $2.4 million IRA or 401(k), may afford a reduced Social Security benefit, but thorough calculations are necessary to ensure financial stability [5] Group 2: Coordination with Spouse - Couples should coordinate their Social Security claims rather than acting independently, as one spouse may benefit from delaying their claim for larger monthly checks while the other claims earlier [6][7] - Delaying a spousal benefit claim past full retirement age is not advisable, as there is no benefit to waiting beyond that point, unlike claims based on individual earnings [8][10] Group 3: Strategic Planning - Understanding Social Security rules and strategizing claims can lead to a more rewarding and financially stable retirement, highlighting the importance of making informed decisions regarding the filing age [11]