Why You Should Take Social Security at 67

When is the best time to take social security? It depends on your situation. How old are you? How healthy are you? What's your marital status? There are many things you need to consider when deciding what age is best for taking social security, whether it's your Full Retirement Age (FRA) or when you're first eligible at age 62.

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The Medicare Family has been making Medicare and Social Security easy for 40+ years, across all 50 states. And each year, our family continues to help more and more people with how Medicare works, when to take Social Security, and how to find the best Medicare plans. We know that learning about your retirement benefits can be confusing. And it’s hard to find a trusted source of information. We get it! That’s the reason we do what we do.

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[TheMedicareFamily]

Let me know what you think about the video in the comments below!

[lilliankerr-zc]

IMO I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[garyodle]

I waited until I was 68. One of the smartest things I ever did. Not only did I get a bump for taking it later but those extra years were my highest earning years which increased the value of my Social Security calculations. Those double bumps made a huge difference.

[ninaappelt]

I just turned 62, in pretty good health but I signed up. Get my first check in March that includes spousal benefits. I saw no reason to wait. Not working, don't intend to. Made sense for me. I'm happy with my decision.

[bernie]

It's important to understand that the money you get at 62, 66 or 70 is all the same money for most people The monthly is less at 62 because you are going to get more payments. It's not magic, it's math. All three payouts come even at around 80 years of age. ( 79 years, 8 months for me) The only way to know for sure which choice is best is to know the exact date of your death. For me I took my Social Security at age 62 because I value time more than I value money. What I mean by that is that by retiring at age 62 I got 4 more years of retired life over the person who waits until age 66 and 8 more years than the person who waits until age 70 to start taking the money. Remember, you don't start getting more money until right around 80 years. So the only question you need to ask is do I want more years of being retired, or more money when I am 80. I took the time because time is priceless.

[apriltaylor]

I am 63, single, and working full time. I will forever be grateful that I found your channel and am able to educate myself and make sound decision. Thank you so very much for your valuable insight and information.

[earlmorton]

Retired at 62 and started to collect my Social Security Benefits.
Best decision I made.

[MadDog_Barks]

I haven't seen anyone on the internet that explains Medicare and Social Security so clear as Sylvia. Thanks for being there!

[erinpeacexo]

Took mine at 62 and worked part time. Definitely glad I didn't wait because no one knows what's around the corner.

[montecraig]

I’m 62 taking it in a year. 42 years of going to working at 3:30 in the morning driving 500 miles in ice, snow and freezing rain pulling a gasoline tanker around, I’ve had it. My mom died at 74 and dad at 76.

[CaptainQueue]

I worked until 70 and took Social Security then. But I salute anyone who can retire earlier.

[Brad_Huff]

I retired at 51 and started taking supplemental Social Security. I’m living life large.

[BigORat]

My Dad took his Social Security at 62. I remember he had money for the first 10 days of the month, then he was broke and waiting for his next check to come in 3 weeks.
Also my wife's grandmother did the exact same thing. She had money for the first 10 days of the month, then she was broke and waiting 3 weeks for her next check. And this went on month after month after month until they died.

I would retire today, at 64, if social security would pay me $4, 779/month like my employer is paying me. But they won't. According to a recent letter from Social Security if I retire today at 64, I will receive 1, 933/month. I'm not worried about how much money I will lose from Social Security by retiring later. I AM WORRIED ABOUT HOW MUCH I WILL LOSE FROM MY EMPLOYER BY RETIRING EARLIER!

[shadetreelife]

I did it at 66 1/2, full retirement age for me. I still work 40 hr weeks at a $40.00 hr. Job. All I do with my SS is paid off all my bills, save half into my retirement fund, and buy a few toys I want for retirement. I plan on working another year because I am in great health. I am happy I made the decision for my situation.

[willelliott]

Here is what people overlook. I plan to wait until I am at least 67 to draw. If I die at the same age as my father, I will not come close to the "break-even" age, when I would have recouped what I had passed-up from age 62 to 67. BUT, will I care? No, I will have left this world for my home with the Lord. Now consider that I draw early at 62, and I live to be 90. I will surely regret that decision. I try to avoid regret. That means waiting.

[loisgodfrey]

I took my social security when I turned 66 and got full benefits by what the social security told me . So I work as much as I want and was not penalized.

[RichardYanez-ogpo]

This is the best advice I have heard on YouTube so far...I am 63 working full time and will probably work to 70 I am healthy and I monitor my ss statement every year my mom is 86 my father lived to 80...I will not allow myself to become sedentary. I can also contribute to my 401k or Roth Ira until 72

[donm]

I retired fortunately when I was 55 with a company pension plan that allowed us to, i had full insurance paid by the company till medicare took over and I am waiting till 70 to take social security, For most people, just go when it makes sense financially, I know every situation is different but, I think the earlier you can go the better if you have managed to save enough, I had planned for years on retiring at 55, so having everything set up and in place was a easy transition, I am glad I got to leave at a age where I could still do everything that I wanted and was still in good health, I see to many people at 65 barely able to function or already in wheel chairs or broken down from there job, a accident or just bad health, so the sooner you can go the better

[bagelsandmash]

Wow! I've never- NEVER heard anyone so clearly explain all this. And I appreciate your honesty about people being honest with themselves about their own mortality. I'm now a subscriber and a fan!

[rnman]

I'm 60 and a half. I'm a registered nurse. I'm wore the hell out. I'd like to enjoy my grandkids while I'm able. I don't really care about breaking even or any of that. 62 it is.