Why I'm Taking Social Security at 62 (And I Dare You to Find the Flaw)

Comments · 2.4K

• KI

  @kingnole7540 · 2 months ago

  Keep the 9-10 min videos coming...  I don't have time to listen to the 45 min podcasts.  Tyler Shorts Nation unite! ✊🏼

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• JO

  @johnbruenn8755 · 2 months ago (edited)

  You nailed it with how valuable are those healthy years. I left the high stress job I absolutely hated, 2 years ago at age 62. Took my social security. I would do it over again in two seconds. Number one, I got my life back. I regained my inner peace and sanity. My health improved. I lost weight. My wife and I live and travel on our boat. We have friends in their early 70’s that sold their boats because their health declined. Don’t WASTE those healthy years!!

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• RE

  @RED768 · 2 months ago

  I'm 53, a Telecom installer and ready to get the heck out. I'm retiring at 60 and taking SS at 62.

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• BE

  @bealzibub1749 · 2 months ago

  I would claim at 62 also, but I’m not going to get 2500 a month. I would get far less than that. The decision needs to be based on whether or not I can meet my monthly expenses. Maybe this works for you given your financial resources, but certainly doesn’t work for everyone.

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• JZ

  @jzuffoletto · 2 months ago

  I’m with you, brother! I turned 62 in May and just got my first SS payment!

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• LY

  @Lynski6960 · 2 months ago

  Cancer at 57, retired at 60. SS at 62. Lots of travel outside US & states. Just turned 70. More health issues now, so glad I made these decisions. Slowing down now! Traveling is not as important now. Enjoying living in a mortgage free home. Little things in life makes us happy. Trying to live a better healthy life style the last couple of years. Seems to be working. This should have been a higher priority earlier in my life. Easy to take life for granted, then you get a wake up call! But it’s been a good journey! Cheers!

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• RI

  @richardstengline5743 · 2 months ago

  No one is guaranteed how long they will live; my plan was taking mine at 62 well life had other plans I had 2 major medical emergencies at 61, so I had to take disability which gives me full retirement. I do not have any idea how long I have left but I feel good and am enjoying life while I can.

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• JE

  @jeffjoy8413 · 2 months ago

  Dare accepted.  In short... taxes.  If you happen to have a large 401k, drawing from it early reduces it.  If you don't use it early, you will be force into higher RMDs.  You may have more than enough to meet expenses but will still be forced to take a higher RMD withdrawal, thus higher taxes.  SS is not taxed the same way a 401k is taxed, so a higher SS payment with a lower 401k draw reduces tax burden.  If you don't have a large 401k and are not in the best of health, then by all means, take SS early.

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• EY

  @Eyrrll · 2 months ago

  If I live to 79, I will be lucky to know who I am, so there is no point worrying about a few extra dollars at that point.

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• RA

  @Randall-Mi · 2 months ago

  Took my retirement early at age 51. I worked a job I liked for 5-6 more years. Took a little hit , but it was worth it for me. Now I’m 62 and start receiving SS next week! My health is good and actually improving with life changes I made. Do it !

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• MJ

  @mjulkunen · 2 months ago

  I retired at 60.  The plan was to wait at least until 65 to take SS.  However, at 62.5 I got a diagnosis of cancer.  It was time to reconsider.  I did the break even analysis at that time - 80 to 81 was break even.  Both my wife and I started our social securtity a few months after turning 63.  I've seen several situations where people plan to delay SS until 70, they died before they ever collected a single check.  The money today has been very helpful - I would struggle to pay my medical and living expenses without it.

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• SE

  @Setters-R-Better · 2 months ago

  As recent retirees still in our 50s our plan was always taking SS at 62. That was before we looked close at RMDs and taxes. We're now planning to delay a few years to make more room for Roth conversions in lower tax brackets.

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