This Social Security filing mistake could cost retirees $100,000

About 40% of Americans claim Social Security benefits at age 62, according to retirement data. This early filing decision can quietly reduce lifetime Social Security benefits by more than $100,000. Many retirees focus on quick income, but overlook how Social Security claiming age shapes long-term retirement income. Filing early cuts monthly payments by nearly 30% compared with full retirement age benefits. In contrast, delaying Social Security until age 70 can significantly increase monthly checks through delayed retirement credits.