102 Replies to “Social Security – Why Smart People Take SS at 62 ?”

  1. ..I started it at 62 years and 3 months and have never looked back..that was 3 years ago..don’t you think it works to the government’s advantage to have you wait? They never would have offered a higher payment down the road unless it did..otherwise if it was to their advantage to have you take it sooner they would offer that info instead..not rocket science here..besides that you’re taking a gamble by waiting to 70 or whatever because none of us can say we’re even gonna be around tomorrow let alone 8 years from the present..if I knew I was going to live to 85 or beyond, yeah, decades of payments would make a difference but I don’t have the luxury of knowing when I’ll be going..

    1. All the people that I know who have retired all had the same worry…”Will I have enough”.    I know hundreds of people who have retired, some early, some late, and every single one of them says the same thing…”Why did I wait so long”.    There is a lesson in there.

    2. Robert Allen Social Security never sent me my first check , at times I think I should contact them and demand they get it mailel however I realized early on that by the time info goes to three or more people it could just make matters worse , They get things Ducked Up too often

  2. Most people don’t have or make all that much working. Retire at 62 and save your gas and lunch money. Do side jobs or under the table work if you need more money. Either your rich or you’re not , the middle class is being fazed out

    1. You are 110% full of crap..But I also believe you are trying to make a point that has for years been debunked. Good try ..the only people that believe your BS are those that watch Fox. The rest of us know your dirty tricks.. Try honesty it’s a lot healthier.

    2. grabitz I am on social security and I work part time and so does everyone know. IRSs were lost in the last financial debacle. Thank you Bill Clinton.

    1. Kim I’ve recently become more aware of putting my full name along with my exact age ( and income) as you can become a target for scammers or identity theft. Please be careful everyone.

    2. It’ll be more if you qualify for SNAP and free Medicare with no copay as Medicaid handles that.  Most SS checks under 1300 or so are equal.

    3. SS isn’t going anywhere.  It began because old and sick people were dying in the streets in the Great Depression, and this scares people of working age (as it should).  Since we don’t want the elderly to starve and die, it’s a lot cheaper to give them a basic income than to pay to hospitalize them etc.  It’s the cheapest option that allows us to remain civilized as a society.  Minor adjustments to it could balance its budget overnight.  Personally I’d like to see a universal retirement benefit and all private pensions abolished.  Convicted child molester Jerry Sandusky gets $50,000 a year in a state pension as his reward for a job at which he raped children.  The ultimate PENSION PIG.

    1. After age 66, you can make any amount of income and not pay a penalty. If taking benefits before age 66, you lose 25 percent for those 4 years but you’re still young enough to enjoy, hell by age 66 you could be a years or two away from a retirement home, then they take all your benefits except small change each mo.

    1. If in good health, ya better to wait to 65 like I did. Those extra years added to my IRA, SS, and Pension and other benefits. I get much more now than I would have. But if you hate your job or are worried now about Trump killing SS, get out ASAP!

    2. James Pesaturo but more and more people are living longer lives now due to advances in medicine, and most people do not save effectively, Americans average 3% annually. So when they’re older, it will be much more miserable to have a check that’s 40% less each month. If you do die early, you won’t be around to miss it anyway

    1. That’s about right. But, I’ve come to realize….just keep moving, things come from different sources. You’ll be just fine if you take came of your body FIRST

    2. Buy & fix an old house w/ low taxes. Stay fit, eat less, ride bikes. Stop driving all over. Heat with wood. I find it easy to live on my 62 retirement with a couple small pensions.;)

  3. My dad retired at age 64. 2 weeks later he was diagnosed with colon cancer and soon died. I retired at 62. I adjusted my standard of living and am enjoying my life. Point is we aren’t guaranteed how long we will be here.

    1. Howard Russell, my mom did the same thing, she applied for her Social Security at age 62 in April and died of small cell lung cancer in December the same year. Horrible.

  4. The ONLY things you need to know…. Both choices will STATISTICALLY provide the same payout. These numbers weren’t picked out of a hat. If you keep working while collecting, you’ll hand BACK part of your SS check. If you die early, taking your check at 62 will leave you with money in the bank. Not so, if you were waiting.

    1. They want you to wait until as close to 70 as possible. I wonder if that’s because the vast majority of us don’t live past 72? I’m taking it at 62. I’m going to continue to work, but only part time and at things I like. The SS will help augment my income for the salary reduction.

    2. As others have pointed out, yes you can work and not get penalized up to 17k+ but, what job pays that much per YEAR, unless it’s part time. Then, every dollar over that Uncle gets 50c of it???? Some people want to keep working… God bless them. House paid off. Car paid off.. IRA, Roth, Cash…. It’s time to vegetate. I’m spending the kids inheritance.

    1. CY Riceball As Wimpy used to tell Popeye….”I’ll gladly pay you Tuesday for a Hamburger today.” The government is wimpy….and a bunch of liars. Take ‘da money.

  5. 1000 a month want cut it ,social security should be 3000 thousand a month ,most people who worked never draw a dime (they die before 62) plus congress keep robbing out of social security fund that’s why Americans are underserved

    1. 2 years ago, I finished up 3 years of having lived on 5k a year, in the back of an old mini-van. You can make $60 a week selling your plasma. You can make 4k a year, doing craigslist gigs, easily. With the 8k a year from SS, you can retire very easily. Get a “mining claim” out west. One up north for the summer, one down south for the winter, You can pull in a van and a trailer, have all the rights of an owner, for $120 a year on 20 acres! You can hunt, shoot, fish, hunt, have a garden and small livestock, run off trespassers.

    2. $1,000.00 will more than cut it, but it depends on you moving to an area of the country where the cost of living isn’t so high. I live in the Midwest and by the time I retire my house will be paid off, my car is already paid off, and my food and utilities don’t come close to being $1,000.00. I’d have an extra $700 every month just laying around and if I get bored I can get a part-time job that I like and have more extra money.

    3. Where do you guys live? Guess I need to move there…
      With out a car payment, I have to have 1,100 just to make the general bills. I am in the south where its cheap.

  6. When the retirement age was 55, most of the guys in construction that retired died within 6 months. So any age can be a death age. Might as well get your money when you can.

  7. I got my first check the month after my 62nd birthday, two and a half years ago. I’ve banked the money and it’s added up fast. Sure, I could have waited four years for another $500 a month, but that would have taken until I was 78 to break even! And, that’s discounting the time value of money – better to have resources NOW. Who knows how long you’ll live? Good health today could turn into heart attack next week or cancer next year.

    1. keep in mind… Average life expectancy (80 in the US) is based off of EVERY death in the nation. Including childhood diseases. accidental deaths, combat deaths, smokers, alcoholics, drug users and such. All those deaths are what is keeping the average life expectancy where its at. We’ve already made it passed childhood diseases and youth deaths. Depending on our age now and our health, our life expediencies are now closer to 90 or 100. I watched 3 out of 10 of my aunt and uncles die already in there 50s and 60s do to alcohol and drug use and smoking. those 7 left now have a much higher expectancy; statistically.

  8. I ‘m 62 and collecting Social Security , not waiting until I’m 65 or 70 I might not be alive who know, enjoy life now while I’m in good heath…………….

    1. Denise Sartin my hubby waited until he was 70’and thankfully he is getting a nice SS but not me, I get a government pension and when I went to collect SS at age 62 or whatever ,my SS was deducted by 2/3 rd because we government workers cannot collect both at full money’s, I earned it bit it was taken away from me, where is this entitlement

  9. After working for the past 50 years I will retire at 62. Sure I’ll just barely get by financially but I’ve already done most everything I’ve wanted to do. I live by this simple motto: “As long as I have a safe and warm place to sleep, healthy food to eat and good friends to play with, I am wealthy”.

    1. What happen to Gum Control? Cat got his tongue? Most working people did start young, babysitting neighbor kids, cleaning cars & houses, washing cars etc.

    2. Actually if you are poor you might get MORE money by taking SS at 62 because the lower check might qualify you for SNAP and Medicaid.  I learned this by accident when I went on SSDI, and because I had low lifetime earnings.  People who wait might actually be cheating themselves in the short term as well as the long term.  The logic I see from many experts is a classic example of having the right answer to the wrong question.

    3. Gum Control: That’s not true… I started working at 13 yrs old. I had a paper-route for the San Gabriel Valley Tribune and earned approx $50 per month for about 2 hours after school and early mornings on weekends. Then I graduated to mowing lawns at 15 yrs old. By the time I had graduated High school at 18, and enlisted in the Army, I had a well established yard care and gardening business. In the spring-time and summers, as a youth, I would make really good money (for a teenager) by creating backyard veggie gardens for my neighbors and returning weekly to weed them. So I disagree with your statement. Back in the 60’s and 70’s a teenager could earn enough money to buy his first car or motor-cycle when old enough just by being a hard worker. And I was also able to contribute to the household expenses, which made my parents proud of me and boosted my self-esteem.

    1. Work when you can . The only thing about retirement is not getting up at 7 AM. Now if you can’t do it any more retire at 62. I retired at 67. and am 77 now I expect to live to 80 as both my grand fathers lived to might live to 100 as a great grand father achieved or die tomorrow. My father died at 56 Years old. I passed that age.

    2. You are leaving out a group of people. Since I stayed home and raised my kids (stay at home mom) while never making very much money from the jobs I worked…. my benefits at 62 will not be enough to survive. If I take them early I will have to work a part-time job until I die as I am single. So this might work for those who are getting at least 2k, have spouses plus have a retirement plan but not for someone like me. ?

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