Shaken by the unpredictability of the Trump administration and other factors, some are claiming their benefits earlier than planned.

The number of retirees claiming Social Security at age 62 declined between 2019 and 2023 among men and women, according to data from the Center for Retirement Research at Boston College. For men, the percentage declined from 31% in 2019 to 26% 2023. That compares to 27% of women claiming at 62 in 2023, down from 34% in 2019.

Think twice before you join the growing number of 62-year-olds who are deciding to be “early claimers” of their Social Security benefits. I’m referring to the option that Social Security provides you to start receiving benefits at age 62 instead of at your full retirement age (currently between 66 and 67).