Should I Start Taking Social Security Now at 67 After Losing My Job?

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August 29, 2025 at 5:10 AM

Key Points

  • Claiming Social Security early can result in reduced benefits.

  • Once you’ve reached full retirement age, you can feel more comfortable signing up.

  • If you don’t need the money right away, delaying Social Security can be financially advantageous.

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The loss of a job later in life can be a tough blow. It’s never an easy thing to suddenly find yourself without an income. However, if you lose your job when you’re in your 60s, you may struggle to find a new one due to age discrimination.

It’s illegal for employers to refuse to hire someone based on their age alone. However, it’s also a difficult thing to prove. For this reason, if you find yourself out of work in your 60s, you may find that you have limited options.

In this Reddit post, we have someone who’s turning 67 in a few weeks who just lost their job. They’re wondering if they should file for Social Security at 67 and take the money to compensate for the paycheck they used to get from work.

Filing for Social Security at 67 may not be a bad idea. However, this poster may not need the money, and there can be a benefit to waiting.

Why this Reddit poster should feel free to claim Social Security right away

The earliest age you can sign up for Social Security is 62. However, claiming benefits before reaching full retirement age (FRA) results in a permanent reduction.

The poster above has an FRA of 66 and eight months, which means that if they file for Social Security at 67, they won’t be looking at reduced benefits. That’s the main reason the poster should feel comfortable taking benefits if they feel it will improve their financial situation.

That said, the poster may not need Social Security right away. And waiting could work to the poster’s advantage.

Why waiting could make sense

The poster doesn’t offer details about how much retirement savings they have and how much they expect to rely on Social Security for income in future years. Because of this, it’s a little hard to know whether the poster should claim Social Security right away versus wait.

Holding off on Social Security could be advantageous, since it’s possible to accrue delayed retirement credits worth 8% per year up until age 70. If the poster delays their Social Security claim for three more years, they could boost their monthly benefits by another 24%.

If the poster has a nice retirement nest egg, that may not be necessary, and taking benefits immediately could give them some financial breathing room. However, if the poster doesn’t have a lot of money saved for retirement, then delaying Social Security for larger checks is a smart move.

Either way, though, the poster may want to hold off on Social Security for one good reason — it does not seem like they need the money right away.

The poster says that their husband still works, and that as a household, they can get by on his income alone. That doesn’t necessarily mean they’ll enjoy the most comfortable lifestyle, though.

However, the poster is also eligible for a small unemployment check. That, combined with the husband’s income, could be enough to cover their expenses and have some flexibility.

The poster also doesn’t mention whether they’re interested in finding a new full-time job or not. That’s a big piece of the puzzle.

If the poster’s intent is to find work again, and they can get by without Social Security for a while as they look for a job, then delaying their claim further to grow their benefits could make a lot of sense. However, the poster might struggle to find a new full-time job due to their age, and they may not enjoy a part-time job if they can’t find something that matches their skill level.

A tricky decision

All told, there are a lot of variables at play here. The decision to claim Social Security now versus wait should depend on:

  • How much savings the poster has

  • How comfortably they can live on their husband’s income

  • How interested they are in continuing to work

The poster should discuss their situation with a financial advisor for guidance. The good news is that no matter what they do, they aren’t looking at reduced Social Security benefits, since they’re beyond FRA. But locking in a larger boost could give the poster more peace of mind throughout retirement, so that’s certainly something that needs to be part of that conversation.

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