Why would anyone take Social Security early

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[AzulWells]

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[jackthereefer]

I retired at 59 1/2 from a stressful job. I took SS at 62 and I am now 67. I have no regrets retiring when I did. I have no guarantee how long I will live.

[randyk]

Took it at 62! It is not a health issue, it is a work place issue! The people and the workforce sucks! I am so glad I did it!

[xaviotesharris]

Yeah, just took it at 62, with my first check still some months away. Added to my pension, it will allow me to travel full time until I get tired of that and decide what to do next. I'm following the lesson I learned from my father, who waited until FRA so he could add that fat check to his military retirement. A seemingly healthy man, he collected one check before he dropped dead of a heart attack. Miss you, Dad, and thanks for the lesson.

[ozelot]

Sir not everyone watching your channel is at retirement age. There are many “young” 48 in my case, watching and learning from you and your commenters. Please keep sharing your time, knowledge, experience, wisdom, and insights. We ARE listening. Thank you.

[terrypeckham]

I retired at 62. Always knew I would. The 5 years of drawing SS before I turned 67 amounted to about $120, 000 so the increase I would've realized at 67 wouldn't have compensated me. Plus being able to come and go as I want was important to me

[gingerkilkus]

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 weren't to blame for.it's especially difficult for people who are retired.

[KingArtexerxes]

When I was 62, I quit a job I hated. Now I’m 70. I don’t regret it.

[danieltaylor]

Took mine at 62. I'm 67 now and have no regrets. I worked in manufacturing for over 40 years and was ready for a change. I have a pretty good pension in addition to my SS and a healthy 401k which I have not touched yet. Retiring at 62 isn't for everyone, but it worked out great for me. The future isn't guaranteed. Take it as soon as you can.

[KC-srfi]

Discovered your channel this evening - have watched several of your videos since - have “liked” all of them and have subscribed a few videos back. You do a GREAT job! I “got retired at 57 years old, in Aug 2019”, still loving being retired - plan to begin drawing in November at 62 years old…..👍🇱🇷

[howellwong]

I retired when my pension and SS equal my living expenses. It happened when I was 68 years old. I am 90 years old now, so it turned out fine for me.

[darrylk]

I will be turning 62 later this year and have been thinking about this very issue. My argument for taking it early is that the money you receive for 5 years (between 62 to 67) can grow to a nice sum. Simple math with round numbers, say at 62 you get $2000/mo and at 67 you get $3000/mo. If you take it at 62 by the time you are 67 you will have received $120, 000, not including any interest or gains made from investing the money. That means if you did nothing with the money, but put it in a savings account when you hit 67 you will have $120, 000. If you receive $3000/mo at 67 that extra $1000/mo would take you 10 years to make up that $120, 000. That means you would be 77. At 77 I think I'll be less active, staying home more, and growing tomatoes in my back yard, or maybe even Vanlife, but between 62 and 77 I would like to travel and spend, spend, spend. 🤑😁

[brucelongmore]

We appreciate the confirmation of taking social security early due to health concerns. Thanks for your wisdom!

[alpine]

Check in with me when I hit age 76.3 or something close to 77, I forget, to see if I regret taking SS at 62 'cause that's my break even point for the extra money I took from 62 to 65. You'd be surprised what you can do in all aspects of your life when you have nothing to do and all day long to do it. It's a chance, an inflection point to begin a new phase, like graduating from HS or college or leaving after military service. You've made it to 62, do it while your still young. Signed, 72 year old mountain hiker.

[danareynolds]

Another reason for me, Azul, is my young adult disabled daughter on SSI would bump to SSDI with another approx $500/month for her and dual AZ Long Term Care + Medicare with extra $$$ for personal care items if she has a retired or disabled parent

[strongjohn]

In short my view is that most should take SS retirement as soon as you can afford to do so, taking into account your monthly needs, any other financial resources, and your health. I took it when I turned 64 near the end of 2020 - the benefit was enough to replace most of my income from work. While I am not maximizing my benefit by waiting longer, it felt great to stop working at that time. No regrets.

[somerville]

Nothing in the world beats direct deposit! I took it at 62 and am working part time. Ow 65 and on Medicare. Working out great for me so far. If I live past my break even point, well then I’ll worry about my decision then.

[Burps___]

The reason several of my friends took SS when first eligible: distrust of government, who is always threatening changes to SS such as age increases, payment cut-backs, or means testing. Not only is a “bird in the hand worth two in the bush”, but starting payments and being grandfathered in before any adverse changes is worth ten in the bush.💰 🐦

[stephenduling]

We retired at 57 and moved to the Philippines to live for 10 years. We've been here for 7 years now, just living off my pension and investments. My wife is starting her SS next month at the age of 62.. when I turn 67 in four years, I'm starting my SS, which will be my full payment of $3, 500 and my wife will re- file to get half of mine and at that time we're moving to Venice fla. To spend our golden years. We love traveling here in Asia. Singapore is great, and Sydney is fantastic. It's a great way to spend retirement. Why struggle living in the USA when you don't have to.. You have to think out of the box sometimes to get the most out of retirement

[patrickmcginty]

I love your content! Keep it up. You deserve more subscribers. As for my take, since my parents lived into their 80's and I am a healthy early retiree (currently 57), I plan to take my SS at 70 so I can spend more nest egg now while I have good health, and have more SS into my 70's where I will likely be less active and probably could live on just my monthly SS check while reading books, watching YT videos, mentoring youth, and drinking coffee/beer with my old fart friends reminiscing about the good times of youth.