Early Social Security: 10 Reasons to File at Age 62

I'm not regretting for taking SS at 62,loving the less stressful life.

My retirement account has gone down by 13.7% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 42 years of working hard.

Retired 55... combination of health, stress and a physical demanding career. Plan on taking SS at 62, to lessen my withdrawal from my 403b, IRA and money market fund. Medical thru the VA till 65. Debt free currently. And enjoying my travels.

We took ours at 62 and haven’t looked back. My 90-year-old uncle advised us and I believe he was right. Fourteen years and counting.

The biggest reason I waited was that SS is basically an inflation adjusted annuity. None of my other investments have automatic inflation adjustment.

I'm 64, evaluating every few months, would like to wait till 67, we'll see. Thank you Geoff.

Though you already convinced me that waiting to collect SS is best - in my situation - it's always good to hear opposing arguments.

Thank you ! I appreciated Mr. Schmidt you sharing your knowledge with us. I just got finished forwarding this to at least six people.

Perspective can change, sometimes suddenly. I retired last year at 65.5 and was planning to delay SS until 70 and live off non-retirement savings (FRA was 66.5) and possibly dip into long existing 403b/IRAs as needed. I estimated my life expectancy to be ~20 years. Then I experienced a fall while hiking and spent 12 days hospitalized and another 6 months recovering. I had lots of time to think about it and immediately started collecting benefits. As you always say, everyone's life situation is different so there is no universal answer. After ~14 months, I have zero second thoughts. The prospect of leaving money on the table is not desirable and I'm willing to risk a slightly smaller long term payout if I make it into my 90s.

The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings to fall back on.

Geoff, just wanted to thank you for putting such good content out there for others to consume. Very much appreciated. Stay well.

I filed for social security in May. I will be 62 in August, and I will receive my first SS check in mid-October! I could no longer work full time at my physically demanding job. Ageism is also a factor. My employers seem to be hiring people in their 20's lately and they end up quitting after a few months. I presently only work one day a week and now that my employer notices the work ethic of the younger people, they are hinting around for me to come back to work full time again! For the last decade they were trying to get rid of all of the older workers, including me who made too much money! No one wishes to be older, but I am so glad to be out of the ageism, nepotism and butt kissing work environment instead of just starting out!

My last consulting gig ended just before I turned 62. I started thinking about driving into the sun at sunrise and sunset, and just decided I was done. It's not critical money for us, but it shows up every month and we donate it to a NGO.

I plan to work (or consult) as long as is reasonable. That is because I enjoy what I do. Did not consider how much property taxes and home insurance would cost in TX. I know there are ways to reduce them, and they are less than rent, but they still are a draw on income.

Thank you for the useful information you shared; it has helped me a lot

Yes, watch how much you earn before full retirement age! I have just finished paying back my husband's SS because he didn't pay attention, was a contractor, and felt better with a full load of assignments than less.

Getting mine Oct this year, nobody is promised tomorrow

For me, it was 1,2,3 6,7,8, 10. Most of the time, I feel like I don't fit into your channel but think the advice is facts. Thanks for making this video.

I'm 61. I know from past experience no one is going to hire me due to ageism. So if I lose my current full time job there won't be another. Hopefully nothing will go wrong for six years.

The wife claimed hers early as she was taking care of her mother and I had started a business. I just claimed at 70 but will continue to work, as I am replacing some lower income years now. Both of our moms lived into their late 90's, so there's a good chance that at least one of us will live long enough to benefit from my waiting to 70.