No one is going to squander real wealth to get $1200 a month in SS security or whatever the payout is.
Let's say you're a 62 year old skilled tradesman who otherwise intends to work until age 65 and has a life expectancy of 20 years. Using the $1,200 per month figure, you would have to expect to clear after taxes (remember Social Security income isn't taxable to those folks who would pass the "means" test) over $80,000 per year for the next three years to equal the Social Security entitlement your would be losing.
...or, you could spend the next three years dissipating your life savings and qualify for the free money the rest of your life.