Why You SHOULD Retire and Take Social Security at Age 62 (5 Reasons)

In this video, we explain why it makes sense for some people to take Social Security at Age 62. When you should take social security depends on your unique situation. You need to understand what to take into account when making this decision. Just because you'll get more money if you wait, doesn't mean that's the best option for you.

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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!

[GTRrocker]

I will be taking it as soon as I can. Nothing in life is guaranteed and you never know when you will die.

[danieltaylor]

Took mine at 62. I'm 67 now with no regrets whatsoever.

[janozkk]

I retired at 62, 7 months ago. I have been maxing out the contributions since I earned above $150K. I now receive $2300 month and only do a $1, 000 monthly drawdown on my IRA. Realized you don’t need a lot of money to retire if you are debt free

[alexsteven.m]

I would be retiring or working less in 5 years, and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.

[sharimedleyed.s.]

This is my 26th year as a teacher. I turn 62 in January. I had been tossing around the idea of retiring, and now I think I should just go for it. Thanx! 😊

[josephthomas]

I am 63 and I retire in 2 weeks. I will be taking SS at 64. I value my LIFE more than maximizing my Social Security. By the way, I had my first heart attack at 48 and my dad died at 61.

[chalo]

I am 59 i am thinking to retire at 62 by the way thank you to you guys for the good advice. Time to relax and enjoy life more and travel more. ❤

[tmoore]

I want to retire at 62. But my husband was 69 and I hoped to travel with him while we could. He passed away last week. Luckily he retired at 59 (health reasons) and started collecting at 62. I however was told I don't qualify for survivor benefits because I make too much, 61yr currently. Unfortunately my budget didn't go down to match his missing SS income. I am now reevaluating my options and leaning towards retirement with pension, SS and some investments and possible working part time afterwards. We aren't guaranteed a single day. The last real thing my husband said to me was, I thought I had more time.

[bridgettewood]

I took mine at 62 thank you for opening my eyes. God bless

[Sharonjones-yx]

And I did and with my retirement money from my job my income after taxes is $5100.00 a month. I am living the life of my dreams. I’m Very healthy and work out 5 days a week.

[bellarosa]

I knew this lady who I worked with who waited until 65, I think to retire. She was a VERY heavy smoker. She was diagnosed with colon cancer shortly after her retirement and died. I always think of her. She was a hard worker. Makes me think that I’m grabbing my money as soon as I can!

[mikefarrant]

My wife is still working almost 40 years straight she’s now fighting colon cancer pancreas issues very hard on her but she stills go to work every day I m serious every day but it’s taking a toll now I will not let her work a day over 62 she deserves to get back what she put in we never went on a honey moon we raised 3 awesome kids thank u lord for the blessing 62 done and going on our honeymoon long waiting I was just thinking about her retirement 62 and seen your show thank u for giving us the correct course god bless both of u

[kblackson]

Excellent information! Thank you! I will be 57 in two months. AS SOON AS I am able, I am taking mine! I have a small pension, $35k per year and a small 401k. I don’t need all the material stuff. I am ready to be free!!!

[Royale_with_Cheeze]

Using the most recent estimates for my personal benefits, I came up with this:
SS from 63-83 240 mos. @2, 132 $511, 680
SS from 67-82 180 mos. @2, 843 $511, 740
SS from 70-82 and 1mo. 145 mos. @3, 525 $511, 125
For me, if I wait until 70 and live until 82 and 1 month, I will have caught up with the benefits accumulated if taken at either 63 (just now) or 67.
Waiting will give me just near $1, 400 more per month (for life) than if taken now. Factor in inflation in the year 2030. I think that additional $1, 400 will be more necessary than mere cushion.
I'll wait.

[wickedbird]

😊😊I did the math for every age of retirement from 62 to 70. I included the expected raises I was getting in my final years and the effect on my top 35 years; the increases in my pension for each additional year I work; the money the employer was putting into a bonus for me. The year I would max my pay for my job. Etc. My grandparents were all long lived (90s plus). The break even point was 85 years of age if I retired at 64 years and 9 months. HOWEVER, when covid hit I decided to retire at 64 years and 3 months and just shelter in place. . . IMO, The best age to retire is very complicated and different for every individual.

[cindywilliams]

I am 63 was not going to take it till I was 67bit hardly any work at my job so I am going to take it now

[keithpackard]

You cannot have said it any better. 62 around the corner and Bern working since 16, hard working.
Thanks

[anniefannycharles]

Absolutely! You can still work part time. Don't let the government keep any more of your money. You could pass away.

[WSUIN]

Excellent video. It always amazes me when people say to wait until full retirement age so that you can make more in the short run but less in the long run. My first wife and I did the math a long time ago and realized that if we drew at 62 we would both be in our 80s before we actually started losing money. As an aside, she worked for the IRS for 36 years and when she passed away one year and three days after retiring at 57 I was eligible at 60 to receive her SS as a survivor. I of course jumped on it because it was a higher amount but to do so I had to forfeit mine because it is illegal for one person to draw two checks. This means that all of the money I paid into Social Security over the years was not only taxed but ultimately kept by Uncle Sugar. If a business does this it's fraud but if our government does it it's the law. Points to ponder...