5 GOOD REASONS to File for Social Security at Age 62

75% of all SOCIAL SECURITY recipients file for Social Security retirement benefits BEFORE full retirement age. Most of the time they should have waited. This video Lane Martinsen gives 5 good reasons to file for Social Security benefits at age 62 as well as 5 good reason to delay filing for benefits.

[cybshbv]

Wow, filing for Social Security at 62? Bold move! But hey, I’ve got $125k just chillin' in my emergency fund, itching to start making me some money. Honestly, I'm torn between playing it safe or just diving in. Who knew deciding when to start would be the easy part, right? 😂 Time to make that cash work for me, not the other way around!

[gingerkilkus]

In the 1990s I sold pensions on the strength that the tax free lump sum would pay off most if not all of the mortgage and leave the investor with a pension for life. Most were over a 40 year term plus, I was not alone.

[jeffs.]

I started my SS at 62 1/2, my wife who is 20 months younger than me started at 62. With my pension for working 25+ years we’re doing just fine.That was over 3 years ago & we never looked back. Haven't touched our investments other than to travel. I had two brothers die of cancer 3 years apart. One died at 62 & never drew a dime of his SS. The other died at at 65 & drew 10 months. Let's be honest here, the reason the Government is offering you a bigger payday at 70 is because they're banking on you not making it!

[markandrita]

I plan on taking my social security at 62! I'm going to LIVE IN A VAN DOWN BY THE RIVER 🎉

[ChloeBensonBeautyBoxes]

It’s nice to have more money in those younger years to do stuff. What good is an extra $1000 in the nursing home.

[Dercho]

My Great Uncle filed at 62. He said nothing is guaranteed in life. He passed away peacefully in his sleep at 92. He won at the game of life.

[NoMoreTears]

I'm 10 months into retirement at age 62 and I absolutely do not regret my decision. I have no "pension", but also have no debt and know how to live below my means. My parents, aunts, uncles, and cousins have died at age 70 and younger so I'm taking my money and enjoying my time before arthritis or recurrence of cancer, causes me issues.
YAY for early retirement!

Update to my comment: It is 11/22/23
I stand by my decision. My son died unexpectedly on 11/8/23. I was able to spend a wonderful year with him making forever cherished memories. He was 29.
We are NOT promised a "tomorrow ". Live NOW. Love NOW. Don't wait for some arbitrary perfect time. Find a way to make it work! Until we meet again, Tyler. ❤️

[trenabrown]

Took mine at 62. Did a lot of traveling and bucket list type things. Now at 69 bad back and knees leave me barely able to do anything but see a doctor.Thankful I took the benefits when I did.

[luannp]

My Dad died at age 59, my brothers at ages 27 & 49. My Mom died before she turned 64. My spouse died a month before he collected his first SS check. His siblings died at 68, 68, 57, 45 & 48. Based on seeing that, I decided to start collecting SS at age 62. I am now 69 and just collected my 94th check. I have never regretted taking SS early, nothing is guaranteed.

[UTArch]

Real world story: My best friend was 17 days younger than me. I took my SS at 62, but he said he would wait until he reached 70 so that he could get his maximum benefit, and kept on working. In December, 2019 he died suddenly at age 69 and never saw a dime of his social security. The government hopes you will take this bet on "future greater returns" for this very reason.

[ootenyafoo]

I retired at 55 on a state pension. Took my social security at 62 (been retired 9 years now) and was pleasantly surprised that my wife was eligible for half of my SS as well. I've never regretted taking SS early. I also am proud to say that I like doing NOTHING as much as possible. Those people that died soon after retiring may not have been good at being alone with yourself and enjoying solitary introspection. Either way, for me taking SS at 62 was a great decision. I LOVE being retired!!!

[honestreviewsonly]

Retired at 57 and took my SS as early as I could. I have never regretted it and I love being retired. Have worked a couple of part time jobs, just for fun. Best gig in the world! Happy retirement everyone!! No one is promised tomorrow, so enjoy it as soon as you can. 😎

[leenaright]

I retired and began collecting SS benefits at age 62.
Yes I recieve less per month, but will ultimately recieve benefits for a longer period of time.
Benefits that are sometimes not realized by those contemplating this decision are not financial, but quality of life based.
Freedom from having to do things that I can now choose to do or not.
I never wanted to travel, I wanted instead to enjoy my home, children, church.
Being a night owl all my life, I've struggled to get up in the morning.. now I stay up till 2am then sleep to 11am if I wish.
I eat when hungry, not on a pre determined schedule.
I'm so much happier.

[amaliahightower]

My sister’s friend was waiting when she turns 70 yo next year. She will get $4, 000/month. Unfortunately and unexpectedly she has stage 4 cancer. Praying and hoping she will survive so she can enjoy her retirement. I know I’m collecting mine at 62. Tomorrow is not promised I don’t know how long I will live. I’m a cancer survivor.

[myronlemecha]

There's a sixth important reason to consider regarding taking your social security early that rarely people talk about. The quality of mental and/or physical life generally deteriorates as we get older. Therefore, the social security money during the earlier (younger) years of retirement can be put into many more uses and enjoyments. As we age the ability and/or desire to do things that require money (hobbies, travel, etc.) decreases over time. I've seen that in many family and friends that lived frugally without social security when they retired and did not do all they wanted to do. When they finally took their social security late, they had more money then they needed, but neither desire or physical ability to use it in the way they would have a few years ago.

[Susanhartman.]

Am 58 retiring next year but the thought of retirement gives me weakness. 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 or loved ones to fall back on.

[bobsmith]

As I got close to 62 the last of my close friends died.. when I thought about it there were almost 20 friends, and people I knew, that died before getting 1 day of retirement .. I retired at 62 and have never regretted it... I might not have a lot of money but I have the peace of mind knowing that I can enjoy the day and not spend all my time making some company rich.

[ChristysChannelYall]

I’m 50 and I’m filing as soon as possible. If I can at 62 I’ll be there with bells on. I have worked full time since I was 16 with no breaks ever. I had to be a single mom from the time my youngest turned 8 years old. Full time night shift nurse. SO READY TO BE DONE 😅

[davidmagen]

I claimed at 62. I retired at 60 1/2. And never looked back. The difference between full retirement and the reduced benefit was a couple hundred dollars a month. Just wasn’t worth waiting. Living long enough to be a “drain on social security “. I made it, I paid into it and it was time to start getting it back 🏖️

[jimcharles]

I retired 18 years ago at exactly 62. No debt, modest investments, and no pensions. My wife retired at 63. We live well within our income and really lack for nothing.