My Biggest Retirement Mistake: Collecting Social Security Early 

John Kruzynski remembers it all too well. He was 57 and fed up with his job after decades serving as a letter carrier for the U.S. Postal Service in Queens, New York. Budget cuts were leading to longer hours and extra work. Not to mention the toll on his body from decades of delivering mail. 

“I had heel spurs from walking [so much] over the years,” says Kruzynski, now 63. That was on top of the arthritis in his left hip and knee.

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Instead of soldiering on as the pain got worse, he opted for an early retirement. He had 30 years under his belt (including a stint in the U.S. Navy, which counted toward his federal government service). That made him eligible for a Federal Employees Retirement System (FERS) supplement, an element of the pension system for U.S. government employees. 

Gregory Reid

What’s Your Biggest Retirement Mistake?

Retirement isn’t just about leaving a job. It's about changing your life — your routine, your budget, your priorities, where you live. It's decision after decision, and you don't always make the right one. Is there something you wish you’d done differently?

AARP Members Edition wants to hear about your retirement regrets. A mistimed exit from the office? A move to the wrong place? A relationship you gave up? Spending too much, or too little? Share your story at retirement@aarp.org and we might feature it in this series.

The supplement provides an income bridge for federal workers who want to retire before the normal minimum retirement age — in Kruzynski’s case, 62. Leaving early meant a 15 percent reduction in his pension, he says, but with his wife already retired, it made sense to enjoy time with her at home in the Long Island town of West Hempstead, and to heal his battered body, even if it meant less money in his pocket.

Or did it? Kruzynski says he is glad he left the Postal Service when he did, but he does regret one ripple effect from the decision. His supplement and pension weren’t enough to maintain his lifestyle as long as he hoped it would. To cover the shortfall, he opted to claim Social Security retirement benefits as soon as he could, at age 62.

Had he waited until his full retirement age of 67, Kruzynski would have received his full benefit — 100 percent of the amount calculated from his lifetime earnings history. Starting his benefits five years early is putting more money in his pocket overall, but with a significant trade-off: a permanent, 30 percent reduction in his monthly Social Security payment.

For Kruzynski, “the criteria to retire [early] was you had to be at least 56 years old and at least 30 years on the job, which I had,” he says. “If I would have waited, I would have more pension, more money in my 401(k) and more money from Social Security. I’ll never get to 100 percent.” 

Nonetheless, he and his wife make it work. He initially thought he’d have to work part-time in retirement to make ends meet, but he hasn’t needed to, at least not yet. Instead, they downsized to cut costs.

“We saved a lot of money by getting rid of one car. There’s insurance, car maintenance, inspection and registration,” he says. They also shopped around and found cheaper auto and homeowner’s insurance.

“The fact of the matter is, I would have been much better off financially if I would have waited to retire at 62,” Kruzynski says — he could have secured his full pension and put off claiming Social Security. “But I care more about quality of life.”