Should I file for Social Security at 64 with upcoming SS changes? Retired but worried about timing

What specific SS changes are you worried about? Most proposed changes wouldn't affect people already in or near retirement. If you're already retired and need the income, filing at 64 might make sense for your situation. Just be aware that filing now means approximately a 15-16% permanent reduction compared to waiting until your FRA, and about 30% less than waiting until 70. Have you used the calculators on SSA.gov to see the actual difference in your monthly benefit amounts?

I'd recommend taking a couple important factors into consideration before filing early: 1. Longevity - If you're in good health and have family history of longevity, waiting until at least FRA could be financially advantageous long-term 2. Other income sources - Do you have sufficient savings/investments to bridge the gap until FRA? 3. Earnings test - If there's ANY chance you might return to work before FRA (even part-time), be aware that SS will withhold $1 in benefits for every $2 you earn above $22,320 (2025 limit) Regarding those "changes" you're hearing about - the Social Security trust fund projections show it can pay full benefits until approximately 2034, after which it could still pay about 78% of promised benefits if Congress does nothing. However, Congress has always acted before reaching such a point, and any reforms would almost certainly protect those already receiving benefits or close to retirement age. The bigger risk might be inflation eroding your purchasing power if you lock in a permanently reduced benefit now.

I filed at 63 last year and already REGRET IT!!! Should have waited till at least FRA. The reduction is PERMANENT and with inflation going up so much, that smaller check hurts more every month. Don't make my mistake!!

You mentioned you're already retired - are you currently drawing down savings or do you have a pension? The break-even point between filing now vs. FRA is typically around age 78-80. This means if you expect to live beyond that age, waiting until FRA would give you more lifetime benefits. However, if you're currently depleting savings that could otherwise be growing, filing now might make more sense. Also, have you considered a middle approach? You could file at 65 or 66 instead of either extreme. Each month you delay between 64 and FRA increases your benefit by about 0.5-0.6%.

my brother waited till 70 to file and then died at 72...only got benefits for 2 years...all that money he could have been enjoying gone!!! nobody knows when their time is up take it while you can thats my opinion

have you checked if your eligible for spousal benifits? sometimes those can be higher than your own benefits depending on your spouses earnings record

I tried calling SSA for weeks to discuss my filing options and kept getting disconnected or waiting for hours. Finally used Claimyr.com and got through to an agent in 20 minutes! They connected me directly to SSA and I got all my questions answered. Check out their demo video (https://youtu.be/Z-BRbJw3puU) to see how it works. Saved me so much frustration and I got a much better understanding of my situation.

Something else to consider is that if you file early and later regret it, you do have a one-time option to withdraw your application within 12 months of starting benefits. You'd need to repay all benefits received, but it essentially gives you a do-over. After that 12-month window passes, the decision is permanent. Alternatively, once you reach FRA, you could voluntarily suspend benefits until age 70 to earn delayed retirement credits of 8% per year - though this is only beneficial if you can afford to live without the benefits during that time. Given your circumstances (already retired, comfortable with the reduction, concerned about potential changes), filing now isn't unreasonable. Just be sure you fully understand the trade-offs.

After reading through all your responses, it sounds like filing now might align with your needs, especially since you're already drawing from savings. One last thing to check - have you created a my Social Security account online? It will show you precise benefit estimates at different ages based on your actual earnings record. Sometimes the estimates people work with aren't accurate.

WATCH OUT for taxes!!!! Many people don't realize that up to 85% of your SS benefits can be taxable depending on your other income. Make sure you understand how this works or you might get a nasty surprise next April!!