7 Reasons Americans Are Rushing To File for Social Security (Should You?)

In 2025, Americans are filing for Social Security benefits at unprecedented rates. According to the latest data from the Social Security Administration (SSA), the number of people claiming benefits surged by 17% year over year — reaching 1.8 million filings this May. From department cuts to reports that the Social Security trust fund will simply run out, these factors are driving what experts call a "claiming wave."

If you're planning for retirement or nearing retirement age, the big question is: Should you join the surge or wait it out?

Here are seven reasons people are rushing to file for Social Security, and some guidance on whether it's right for you.

1. The rising cost of living is forcing early claims

Prices on everything are up, with inflation holding at 2.7% this year. Yet Social Security's cost-of-living adjustment (COLA) for 2025 was a modest 2.5% — far lower than the 8.7% seen in 2022.

To gain a clearer picture of how much seniors are feeling this squeeze, consider the costs of rent. According to Apartments.com, the national average for rent is $1,638 a month. In comparison, the average monthly Social Security check is just over $2,000. That doesn't offer a ton of wiggle room for your budget.

Remember that claiming Social Security early may provide short-term relief, but it can reduce your long-term benefits. Consider ways to cut costs, such as finding discount alternatives to your daily essentials or researching a less expensive utility provider.

2. Fear of future benefit cuts

Arguably, the most emotional driver for more applications is the fear of how long the department will remain, along with concerns about the Social Security fund itself. While the SSA's trust fund is projected to pay full benefits until at least 2034, headlines suggest a looming crisis that appears to lack a solution.

This fear, though understandable, shouldn't be the ultimate driver of when you file. Experts advise evaluating your personal financial situation to ensure you claim at a time when you'll maximize your lifetime benefits.

3. The Social Security Fairness Act expanded benefits

Signed into law on Jan. 5, 2025, the Social Security Fairness Act enhances benefits for 2.8 million workers within the public sector.

More specifically, teachers, police officers, firefighters, and federal employees may, in some cases, see a monthly increase of up to $1,000. If you're in any of those groups, it may be worth running the numbers to see if filing now brings you a meaningful income boost or if you still have some time to hold off.

4. Market volatility is shaking confidence

Many retirees with money tied up in stocks or mutual funds are worried about outliving their assets.

Filing early may feel like a safe harbor, but locking in a lower monthly benefit could leave you exposed later. Consider working with a financial advisor to weigh whether your investments are truly at risk before pulling the trigger on benefits.

5. Online filing is easier than ever

Another reason more people are filing is that it's simply easier to do. As well as applying in person or by phone, there's an intuitive online portal where you can apply for your Social Security benefits.

You can use this portal to check your eligibility, estimate what benefit amount you'll receive, and gain other support for retirement planning.

6. SSA outreach programs are increasing awareness

The SSA has also taken action to ensure people know what they're entitled to. Recent mailers and online campaigns have encouraged community discussion, particularly on spousal and survivor benefits.

Many individuals are looking at the SSA site to check if they have any unclaimed benefits, which is likely driving the increase in claims.

7. More people are retiring, and some sooner than expected

Another major driver of the Social Security filing surge is simply demographics. Baby boomers — born between 1946 and 1964 — are retiring in record numbers, with approximately 11,400 Americans turning 65 every day in 2025.

But it's not just those reaching traditional retirement age. A growing number of people are choosing to retire earlier, for reasons such as health concerns or simply because they can.

Bottom line

The surge in Social Security filings is driven by a mix of economic uncertainty and shifting retirement patterns. Whether you're reacting to rising living costs, market volatility, or simply reaching retirement age, it's essential to approach this decision with clarity and not fear.

Filing early can be the right move for some, especially if immediate income is needed. But if you're financially stable and in good health, delaying your claim could mean significantly higher benefits and a stress-free retirement.