That means filing a claim as early as age 62, despite the whopping 30% benefit reduction (2) for doing so.

Are you part of this elite group? Here's a closer look.

Early retirees

To understand Ramsey's insistence on an early benefit claim, it's important to know that the financial guru dislikes the Social Security system. In an episode of the Iced Coffee Hour podcast (3) he called the social safety net a "scam" and "the worst possible investment" — one driven by faulty math.

Simply put, Ramsey sees an early claim as a ticket out of a bad system. However, in 2019 he explained that math works only for a certain group of people (4). "It usually makes sense to take it early if you're going to … invest every bit of it," he said.

Simply put, you could consider an early claim if you can plan and manage your money better than the U.S. government.

That's a low bar, because the Social Security system has been underperforming for years and is currently facing a funding shortfall. The trust fund is invested exclusively in U.S. treasuries, which are considered ultra-safe, according to The Center on Budget and Policy Priorities (5).

For most investors, it's easy to outperform treasuries. A high-yield account like a Wealthfront Cash Account can be a great place to grow your uninvested cash, offering both competitive interest rates and easy access to your money when you need it.

A Wealthfront Cash Account currently offers a base APY of 3.30% through program banks and new clients can get an extra 0.75% boost during their first three months on up to $150,000 for a total variable APY of 4.05%.

That's ten times the national deposit savings rate, according to the FDIC's March report.

Additionally, Wealthfront is offering new clients who enable direct deposit ($1,000/mo minimum) to their Cash Account as well as open and fund a new investment account an additional 0.25% APY increase with no expiration date or balance limit, meaning your APY could be as high as 4.30%.

With no minimum balances or account fees, as well as 24/7 withdrawals and free domestic wire transfers, your funds remain accessible at all times. Plus, you get access to up to $8 million FDIC Insurance eligibility through program banks.

Simply put, it doesn't take much to earn a higher return than the Social Security trust fund. But the decision about your claim isn't just about interest rates, it's also about planning, predictability and control.

Planning for the future

Social Security's future, to put it mildly, is uncertain. The underlying trust fund faces depletion in 2032, just six years away, according to the Committee for a Responsible Federal Budget (6). All beneficiaries face a severe cut in monthly payouts if this deadline passes.

There are many tools lawmakers can use to avert this crisis, but the pressure is on. The number of beneficiaries taking from the program has increased steadily over the years while those paying into it have declined, according to the Peter G. Peterson Foundation (7). This tension, along with additional deduction changes made in the One Big Beautiful Bill, are part of what’s driving the incoming shortfall.

For workers, an early claim could give them more control and predictability over how their money is invested. You could, for instance, take the paychecks early and invest for long-term capital appreciation that potentially offset some of the expected benefit cuts.