Should I take Social Security 4 months before FRA? Only $50/month reduction vs. depleting savings

The $50/month reduction is relatively small compared to your total benefit amount. Something to consider: starting benefits 4 months early means you'll receive approximately $9,400 (minus the reduction) before you would have started at FRA. It would take about 15.7 years of receiving that extra $50/month to equal what you'd get by taking it early. One question: are you still working at all? If so, you might be subject to the earnings test until you reach FRA, which could temporarily reduce your benefits if you earn above certain thresholds.

I was in almost EXACTLY the same spot last year!!! Took mine 5 months early and honestly haven't regretted it one bit. That $43 reduction each month doesn't even register compared to not having to stress about draining my emergency fund. Peace of mind was worth way more then the money to me.

This is super simple decision! Take the money early and enjoy life!!! Why stress over $50 when you could just have the cash now??? Dont overthink these things

There are a few additional factors you should consider: 1) COLAs (Cost of Living Adjustments) are applied to your base benefit amount, so starting with a slightly lower amount means slightly lower dollar increases in the future. 2) If you're married, your decision could affect spousal/survivor benefits. If your spouse would receive benefits based on your record, the reduction would affect them too if they claim spousal benefits. 3) Tax implications depend on your total income. Social Security benefits are taxed based on your combined income, including tax-exempt interest. If you're close to a taxation threshold, this could make a difference. Having said all that, a $50/month reduction on a $2,400 benefit is only about a 2% decrease, which is quite small compared to the typical reductions for early claiming. In your specific scenario, accessing your benefits a few months early might be perfectly reasonable versus depleting emergency savings.

I tried calling the SSA to discuss a similar question and wasted THREE HOURS over TWO DAYS!!!!! Kept getting disconnected or put on eternal hold. This system is BROKEN!!! How can they expect retirees to make good decisions when we can't even talk to anyone!??!?

Everyone keep saying its only $50 but that adds up!! Thats $600 a year for the rest of ur life! And the COLAs make it even more over time. Plus, social security is going bankrupt anyway so we should all get as much as we can lol

my sister took her SS 6 months early and shes been fine!!!! these govt people try to scare you about taking it early but its YOUR money!!

One additional point to consider: if you do decide to take benefits early, make sure to submit your application about 3 months before you want benefits to begin. The application process can sometimes take longer than expected, especially during busy periods. Given your specific circumstances with a relatively small reduction and only being a few months before FRA, this seems like a reasonable case for early claiming. The decision is very personal and depends on your overall financial picture, but preserving emergency savings has significant value.

I cannot BELIEVE how complicated they make all this retirement stuff! In my parents day, you just retired and got your check! Now we need spreadsheets and calculations and 50 different scenarios just to figure out when to take OUR OWN MONEY!!

Looking at your situation, I think you're approaching this very thoughtfully. A $50/month reduction on a $2,400 benefit is only about 2%, which is quite reasonable for someone just 4 months from FRA. One thing that might help with your decision: you could also consider a hybrid approach - use some of your savings to bridge part of the gap and take SS maybe 2 months early instead of 4. This would reduce the permanent reduction while still preserving most of your emergency fund. Also, don't forget that once you start receiving benefits, you'll have that guaranteed monthly income stream, which itself provides a form of financial security that's worth considering alongside the dollar amounts. Sometimes the psychological benefit of having that steady payment coming in is just as valuable as preserving cash reserves. Whatever you decide, it sounds like you've done your homework and either choice (early benefits or using savings) seems reasonable given your circumstances.