Concerns over outliving assets grow among non-retirees

Fifty-two percent of non-retired Americans are “concerned” or “very concerned” about outliving their assets in retirement, according to the Schroders 2026 U.S. Retirement Survey. Despite those concerns, 45% plan to file for Social Security benefits before reaching age 67 — the full retirement age for everyone born in 1960 or later — and just 10% plan to wait until age 70, when an individual reaches their maximum monthly benefit. Sixty-nine percent understand that waiting longer to claim would increase their monthly payments. Their reasons for planning to claim before age 70 include needing the money earlier for regular income (45%), wanting access as soon as possible (43%), concern that Social Security may run out of money or stop making payments (40%) and being advised to take it earlier (14%). “While there is no single, right age for claiming Social Security, careful planning helps take the emotion out of your decision-making,” said Deb Boyden, head of U.S. defined contribution at Schroders. “Knowing your income, spending needs and whether your investments match these needs will provide clarity that leads to better decisions on how to maximize Social Security.” On average, non-re...