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5 GOOD REASONS to File for Social Security at Age 62

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Professional Social Security Analysis and Strategy Report || FOR MORE INFO wwwsocialsecuritylanecom/
Comment from : @FinancialFastLane

I'm retiring at 61 with my pension this summer I will apply for SS at 62 My family has a short life expectancy on my mother's side and most of us have checked out in our 50s due to cancer running genetically in the family So since I'm already past the date my own mother, aunts, and brother have passed on, I don't plan on living what time I have remaining chained to my work
Comment from : @farmgirlrebel1333

Hhhh
Comment from : @Andrewliver2

I've been rethinking my retirement strategy lately—especially how to live comfortably on Social Security I used to assume that claiming benefits as soon as I was eligible was the best move, but now I see that delaying can really maximize your monthly checks over time
Comment from : @Bigwilli123

All this is fine if you are only working a part time job
Comment from : @giovannifunaro5408

I’m able to file for retirement at 575 years old, and that’s what I intend to do I’ve seen way too many people die in their 60s and get little to no chance to enjoy retirement Life is more important than work
Comment from : @claudehopper6192

My father died at 57 my mom at 63 I'm 57 I have decided to take mine at 62 and still work part time tomorrow isn't promised to anyone
Comment from : @jrpacer6355

Why don't you just say if you are working and making over $23,00000 a year Don't collect SS until you stop working or you make less that amount per year
Comment from : @PhonePhone-bz2ql

Building wealth is like climbing a mountain; investing is the steady ascent, retirement is the summit
Comment from : @nguyenTYN-g9j

What is the NPV of each of these? How much better off to take out early and invest? Social security won't keep up with inflation
Comment from : @MeJonTheDon

I didn't watch the entire video, but I'm wondering about the solvency of SS and how that may or should be considered as to when to start filing
Comment from : @bgm1911

Reason to wait, you live to be 100 Can only afford dog food because you took it early
Comment from : @stevenanderson9660

Reasons not to filebrAt 62 you're also getting 60 less benefits if you waited to 70 brWhen you die your spouse get's 60 less benefits the rest of their life if their SSA is less than your benefits brIf you work and made money over the limit up to 67 you are penalized quite a bit br70 is the old 55-60 in your father's time br70 today, your breakeven age is lower than retirees that have a FRA of 67
Comment from : @rickhuntling7338

Maybe I missed it, but it seems like all these crossover projections never take into account the interest that you'd earn from collecting earlier
Comment from : @utubewillyman

If you live to age 80 the years from age 62 thur age 70 equal 10 percent of your life span 😬
Comment from : @July41776

I guess you’re talking for 11 do you not listen to your recording man can you please I don’t think I can listen to you again, but it’s just the slurping of spit and the slurping sound Just drives me freaking crazy It’s a very irritating, holy frig man
Comment from : @riversidebiochar7982

Take it while you can still get around comments act as if they'll feel 62 forever
Comment from : @MilitaryAgeMale

WTF are you going tb doing @ 85richest man in the graveyard
Comment from : @MilitaryAgeMale

SSA WILL RIP YOU OFFbr BEWARE BEWARE
Comment from : @mysticwine

At 62 after 40 years working why ?? Not full benefit???
Comment from : @TaynaluzRodriguez

Taking it early, bad idea, you are locked into a lower restrict rate income
Comment from : @topofthegreen

Doesn’t work AT ALL if you are still working Makes ZERO sense to take it at 62 You’d get none of it
Comment from : @cadiehl1

Why i am watching this video? But it is knowledgeable In many countries in Asian age limit is less because of poor diet What they should do Ladies age 65 to 75 or 80 and same for men So, what they do?
Comment from : @sairaafridi8846

You're crazy! No matter what Social Security benefits will not be at full until your require retirement age I'm not going to lose 30 of my benfits because of early retirement You never get that 30 back ever it is permanently lost income I'm 64, and my retirement age is 67-1/2 losing that 30 will give me a nothing benefit, especially after medcare has been taken the more funds at the start the more you net later!
Comment from : @johnglielmi6428

your dad lived as long as the Lord ordained him to live, not a second longer, not a second shorter
Comment from : @rdwakefield

I'd retiring or working less in 8 years, and considering this financial recession, Im deciding to begin taking up skilled trades I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $120K per year but nothing to show for it yet
Comment from : @Kevinbrian1

A lot of people don’t make it to 62 no more I’m going to get it when I can Forget 62
Comment from : @electroddxful

It's recommended to save at least 20 of your income in a 401k You can use online calculators to estimate how much you should save based on your age and income Saving at least 20 of your income in a 401(k) can help ensure that you have enough money to retire comfortably By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time
Comment from : @MarcoWanner-h8j

Loiks like I'll be better off delaying filing I just turned 59, am healthier overall than most people I know, family history is very long lived, and I won't be able to afford to retire for several more years
Comment from : @ImYourOverlord

If you do the math, 8 years of payments starting at early retirement plus x years after full retirement age gives a higher payout Don’t forget to factor in inflation, loss of use of your money and shorter life to enjoy the money assuming that you survive death to live the x years after full retirement age As we know, many never see a penny in SS benefits Don’t get me wrong If you are healthy, enjoy what you do for living and make much more working, it is ok to retire late, but don’t do it for maximizing your payout taking the much greater risk of never seeing it
Comment from : @dalisabe62

Like I've always told people, you are NOT promised tomorrow, take that social security at age 62 if you can afford to do so I worked in the law enforcement field for 20 years and was able to retire with a lifetime pension at age 50 I'm now 53 with less stress in my life and I don't regret anythingat age 62 I will be taking my social security for that extra financial bump, life is good!
Comment from : @philippinecowboy

My theory for filing early is with all the government spending on illegals, it just may not be available in the future It seems wise to be early registered
Comment from : @rangerdanger766

Why do they call them Benefits when its your money?? The government benefited from taken ur money on top of what they already taxed Its SS just the government taking more money from citizens
Comment from : @Bulos-Mac-617

You should not isolate this decision based on a so-called break even point There are many factors involved in making this decision More importantly do you like your job? If you don't and are financially secure by all means retire
Comment from : @keysersoze503

Another big factor to consider is the life expectancy for the US is currently at 7925 for 2024
Comment from : @middleagedcrazy5297

I’m going to turn 62 in just over one year I need more help in how to apply at the optimal time
Comment from : @Mamajoanie123

My logic is that if you collect at age 62, that might actually be a factor in you living longer as some of the stress from bills are lessened If you wait until 70, you could die shorter due to the stress of this yearsbrbrDo these calculations take into account the time value of money? brbrI think having property is also something that needs to be considered as that is like having a portfolio in the sense that you are not paying high rents, or actually getting rent income
Comment from : @Basta11

Thanks for the information! I have been wondering about the factors which would make it better or worse to start early or later One thing I would have liked to see, and you touched on it tangentially, but basically, what would be the difference if you invested the money you received early Or, if you didn’t have to take money out of your accounts, what’s the growth on that? I know you mentioned this as a strategy, but what would the numbers be? I suppose it could be as simple as, what’s the rate of increase you are getting by waiting versus expected yields in the retirement account
Comment from : @Saquintes2

Can I work part time,even though it my husband's Social Security Pension would my check be cut offcan I get my disability back in if my condition has worsen with more chronic disease with lots of pain
Comment from : @AngelaHickmanJordan-e1o

If your income at 62 is like mine-passive (I'm a landlord) and not subject to paying more SSI and Medicare taxes there is no penalty for making more than the $19k threshold
Comment from : @Popgunner101

Sorry people SS is nothing more than a Ponzi scheme
Comment from : @rltreasure

So this is only if your ready to stop working as well correct? If I make 80k a year I would not be able to start SS at 62 while working they would just take it back
Comment from : @rdking8001

At this point anything experts recommend I do the exact opposite especially when it involves health Money I’m not sure ofbut I’d almost bet that somehow if you collect early social security you’ll regret that decision later on If you’re lucky enough to live past eighty something and are still healthy
Comment from : @joeblack-l5c

Wow in Canada you can get your government pension at 60 and work at the same time
Comment from : @danielgreen3612

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money I started investing with $150k and in the first 2 months, my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and get more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
Comment from : @Susan00197

My wife has never worked outside of being a housewife, which she worked damn hard at Her family is long lived, as well as mine and we're fine waiting until 67 or even 70 When I pass she will get my SS so I figure to wait until 67 or 70
Comment from : @danalawton2986

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!
Comment from : @claireNymans

Thank you!
Comment from : @teamginger6359

I will, you never know maybe I will be dead before 70 so better get a little less than 0
Comment from : @Carolinapetroska

I was in construction Working after 62 isn't a fun option
Comment from : @terrybrockway5376

I worked for SSA for 10 yrs and our motto as a T2 SSA Rep was “take the money and run” as it would typically take too many years to recoup money lost if you rather wait for FRA
Comment from : @renk5000

Thanks I like you tone on this and you were not dramatic like Dave Ramsey
Comment from : @JohnTube2K

It is unclear if the presenter has considered the earnings on the amounts paid early It seems he did not, as is true for many making the math simple but inaccurate If the person considering these options is already committed to retirement date and will either be using SS income or other invested assets to fund that, the rate of return on invested amounts not needed due to early election of SS should be considered as well brThat pushes the "crossover" point further down the roadbrHe mentioned this in a weird way in his first of reasons why to elect early, but keeps referring to same crossover point without doing the actual math to illustrate it's not just about "preserving" you other investments, but actually allowing them to have grown to a greater balance net of withdrawals than they otherwise would Again, changing the crossover point to later in life
Comment from : @georgee5331

As you get older, your chance of meeting your maker increase exponentially and your mobility degrades quickly also meaning that you can't really enjoy your retirement if you are too old I will start drawing SS as soon as permitted
Comment from : @seongpak8732

Why NO mention about health insurance????? If you retire at 62 , you no longer have no health insurance until you are 65
Comment from : @dbaxter47

My sis smartly got ss disability at 58 She died suddenly @ 63 One bird ie $ in hand is worth 2 in bush
Comment from : @brooklynusa670

you cant work for over $35k @62 however you can work unlimited if you take ss @ 66?
Comment from : @brooklynusa670

What really ticks me off is having to take payments from my inherited IRA I hired a CPA to help me make decisions about what to do with the $ Fortunately I can deduct the cost of the CPA at tax time
Comment from : @updownstate

Number 1 reason, purchasing power Inflation just eats away value If you had a plan your not 100 dependent on the government Take the money early and invest Those assets will grow
Comment from : @ScottBrooker-oh5ym

I'd decided to check out this video to prepare my aging process Still have years to collect But ONE common language I see in the comments on YouTube and Google is "Life has no guarantee" So I started to think is Social Security "guaranteed" available for me 5 years, 10 years, 15 years, or 20 years from my first collection date?
Comment from : @NoteAndroid

62 is the ageget every dollar you can, seen people die before getting one dollar
Comment from : @randy-x9f

One question Why would you assume that someone who takes SS spends the entire amount every month What if ( said ) person invests that $$ and gets the NASDAQ ( 30 year average ) of 12 That throws the break even chart out the window
Comment from : @rainmaker6335

And there are at least five reasons not to file at age 62
Comment from : @kurtbilinski1723

I’m waiting until 70 I haven’t earned as much in my life as I would have liked to, so I want to maximize my future benefits I understand no one is guaranteed tomorrow, but I am in excellent health, age 62, and I think the odds are far greater that I will end up living longer I would rather keep working now and have the financial security later on Also, my wife would get larger spousal benefits and survivor benefits if l wait until 70 but she ends up out living me We have no children so we are going to be dependent on SS, so I want that benefit to be as large as possible in our 70s and beyond
Comment from : @Henry-z1y1c

I’m 62 and work full time making over 100 thousand a year Why would I file forbrSocial security at 62????
Comment from : @donaldkennedy4235

is it true that they might increase the full benefits retirement from 67 to 70
Comment from : @joelfeiock4718

1 GOOD REASON NOT to File for Social Security at Age 62brYou don't have any other money and SS is your ONLY income and it's not enough to live on but, 70 WOULD be enough
Comment from : @generic53

I started @ 62 & so did my wife adding $5,000 income, zero regrets We use it to travel & have fun
Comment from : @Retiredtraveler1961

Take it! Don't take it!
Comment from : @jeffreydevine6199

The problem is that you can claim SS at 62, but you don’t get Medicare until 65 3 years of expensive premiums
Comment from : @jamesstudy686

Everything seemed informative except the comment about pension & annuity, both of them pay me for life I bought the best annuity because most will not pay for life Not all pensions are the same, some do pay you for life
Comment from : @Jeff-q1v

And if you die before you claim you get nothing
Comment from : @Psylliumhead

All of those dead people have no knowledge or worries that they "left money on the table" by waiting to claim
Comment from : @MrMoneyManGuyPerson

Look at your parents' longevity, look at your current health, look at your current financial situation, look at any other income you have, and make a decision based on this information at minimum At least that's my method
Comment from : @ricoma6037

I only need one reason, my body is broken They are doing this so they can keep the money of those who dont make it and send it to support foreign countries like Ukraine and the like
Comment from : @gailmckay5551

That was a great analysis I am 4 years older than my wife She stayed at home raising the children and volunteering at school and church I waited until age 70 for SS retirement and she was age 66 By doing that I got the max and she got half of my SS at full retirement age (FRA) That is not the same as half of what I got at age 70 However, she got 100 of her half of my FRA SS If I had retired at age 66, FRA, she would have been 62 and received much less, about 8 a year or 32 less, if she took her SS at age 62 Also, her Dad lived to be 100 Her Mom is 96 So, she has a real good chance at living past 85 By my waiting until age 70 and her waiting until age 66, we get the maximum allowed for my income level At my death she will get 100 of my SS at my age 70 and give up her half of my SS at FRA So, my max SS will be with her until she passes which will likely be 10 years or more after I pass Like you said, there are a lot of things to consider
Comment from : @cowelk

My SS is 1,000 How am I going to live with this amount?
Comment from : @gg1gg2gg3gg4gg5

I retire at 62 but claim at 67 or later, using my investments in the meantime
Comment from : @phd_angel

Can someone please explain to me, if you retired at 62 what do you do for medical benefits
Comment from : @glendastevens2375

Take your ss when you can Life is not guaranteed and you don't know when it will end
Comment from : @EdwardMarrufo-u2l

11:02 His five reasons for collecting at age 62br14:13 His five reasons for not doing sobrBased on those reasons, I should keep working to 67brBut based on other factors - my tiredness of the work world and the desire to be retired in my sixties - I will compromise and work only until age 65 (Medicare age)
Comment from : @richatlarge462

I took it due to health problems It pays my rent and electric bill I pay car, food, insurance, medical bills, gas, emergencies and 4 other bills It is a ridiculously low amount I worked hard, very stressful work Very disenchanted…
Comment from : @aphillips6892

I just lost my job at age 63 Unfortunately, poor choices and two divorces have left me woefully short of a decent retirement portfolio AND I have a mortgage of $285k I can't afford to take SS now without having to dip into my meager investments I'd be broke and homeless before I'm 70 year old But If I don't find another job, I may have no choice
Comment from : @BonnyriggRVLife

what a great life your father had,, follow the leader
Comment from : @ENUDIOZAYAS

incorrect way to take out SS at 62 $1720 is too little of money to retire on Your opportunity income loss is much greater between 62-70 8 years of income loss Avg income could be $6000 a month $576K income loss vs $250K A total of $326K during that 8 years of collecting monthly working income I absolutely believe you have mis-judged the break even age to collect SS
Comment from : @loveyu-x7q